Jumbo Loans in Greenbrae: What Buyers Should Know
December 18, 2025
December 18, 2025
Are you seeing Greenbrae homes priced well above standard loan limits and wondering how to finance one? You’re not alone. In Marin County, jumbo loans are common, and understanding how they work can help you move forward with confidence. In this guide, you’ll learn what a jumbo loan is, how it differs from a conforming mortgage, what local buyers in Greenbrae should expect, and how to prepare a strong application. Let’s dive in.
A jumbo loan is a mortgage that exceeds the conforming loan limit set by the Federal Housing Finance Agency (FHFA). Loans at or below that limit can be purchased or guaranteed by Fannie Mae or Freddie Mac. Anything above is considered non-conforming and is financed as a jumbo.
In Greenbrae and greater San Rafael, home prices often exceed the county’s conforming limit, so jumbos are a regular part of the market. Before you assume your loan will be conforming, check the current FHFA conforming loan limit for Marin County. If the loan amount you need is higher than that limit, you’ll likely use a jumbo.
Here is a simple example. Say you are buying a home in Greenbrae with a purchase price well into the high six or seven figures. If you put 20 percent down, your loan amount may still be above the Marin County conforming limit. In that case, you would need a jumbo mortgage.
This is common for single-family homes and many condos in central Marin. The key is to compare your expected loan amount to the FHFA county limit before you start shopping, so you can plan for jumbo requirements from the start.
Jumbo underwriting has tighter requirements than standard conforming loans. Expect more documentation, stronger credit standards, and a closer look at your assets.
Lenders usually expect higher credit scores for jumbo financing. Many target 700 to 760 or above, depending on the lender and loan size. Higher scores can improve pricing and terms.
Many lenders want 20 to 30 percent down for a primary residence. Second homes and investment properties often require more. Larger loan amounts can also push down payment needs higher.
Jumbo lenders typically prefer lower debt-to-income ratios, often in the low to mid 40 percent range. You should also plan for cash reserves. Many programs require 6 to 12 months of mortgage payments in liquid assets after closing, and higher loan amounts can increase that requirement.
Most jumbo loans need full documentation. Expect to provide recent pay stubs, W-2s or full tax returns, bank statements, and explanations for large deposits or irregular income. Self-employed buyers should be ready with two years of tax returns and detailed business documentation.
Jumbo rates have historically run higher than conforming, but the spread changes with the market. Pricing depends on your credit, down payment, and the lender’s program. Traditional PMI does not usually apply to jumbos, so lenders address risk with larger down payments or lender-specific options.
Property type and project health matter a lot with jumbo loans in Marin County.
A full appraisal is required. For higher-priced or unique properties, a second appraisal or appraisal review is common. If there are limited comparable sales, plan extra time for valuation.
For condos in Greenbrae, lenders scrutinize HOA finances, owner-occupancy, reserves, and any litigation. If the HOA is underfunded or in active litigation, some lenders may decline the project. Request HOA documents early so your lender can review them without delaying escrow.
Lenders require hazard insurance, and some properties may also need separate flood coverage. In parts of Marin, wildfire, seismic, or flood risk can affect carrier availability and premiums. Build insurance quotes into your payment estimates and timeline, since coverage must be in place before closing.
Jumbo loans can take longer than conforming mortgages. Plan for 30 to 45 days or more, depending on your lender, property type, and documentation speed. Unique properties, appraisal reviews, or HOA issues can add time.
Closing costs generally align with typical mortgage transactions, but jumbo appraisals and underwriting fees can be higher. As a rough guide, total closing costs often range from about 2 to 5 percent of the purchase price, but this varies widely. Ask for a written Loan Estimate early to understand fees.
Choosing the right lender is as important as choosing the right home. Different lender types excel in different situations.
Get written Loan Estimates from at least three lenders. Compare APRs, rates, and all fees, and ask how they handle reserves, DTI, and documentation. Confirm if the lender sells your loan or keeps it in portfolio, since that can affect flexibility and speed.
Use this list to get organized before you apply.
Questions to ask lenders:
Jumbo loans are part of everyday buying in Greenbrae and San Rafael. With the right preparation, you can compete with confidence and close smoothly. If you are considering a move in Marin County, we are here to guide your strategy, timing, and offer strength from the first viewing through closing. Ready to plan your next steps? Connect with Christina & Karla for local, hands-on representation.
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Christina and Karla have represented a broad range of properties and clientele which has given them a vast amount of industry knowledge and expertise, in turn providing tremendous results for those they represent. They are well-acquainted with the marketplace and easily able to gain knowledgeable insight on inventory for their buyers.