Conventional vs Jumbo: Which Should You Choose?
A loan is conforming when it is at or below the FHFA limit for its county and jumbo when it is above; both are conventional loans, so the Loan Estimate labels them the same way and the amount is the only thing that decides. Crossing the line changes who buys the loan: conforming loans are sold to Fannie Mae and Freddie Mac on published terms, jumbo loans are held or sold privately on each lender’s own terms, which is why jumbo rates, reserves and down payments differ so much from one lender to the next. The table below gives the limit and the 20%-down purchase ceiling for each county Ralo prices; in 2026 a median-priced home clears it everywhere, including San Francisco.
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Key Numbers
| Statistic | Value | Source |
|---|---|---|
| 2026 conforming limit, one-unit home, most counties | $832,750 | FHFA conforming loan limit values |
| 2026 high-cost ceiling, one-unit home | $1,249,125 (150% of the baseline) | FHFA conforming loan limit values |
| Counties Ralo prices with a limit above the baseline | 14 in California, 7 in Colorado, none in Texas | Ralo county pages |
Where the Jumbo Line Falls in the Counties Ralo Prices
The 2026 conforming limit for a one-unit home is $832,750 in most counties; FHFA raises it in high-cost areas. The ceiling column is the highest purchase price that stays conforming with 20% down. Median home value is the lower median of the county’s measured ZIP values from the Census American Community Survey. 40 other counties Ralo prices use the baseline limit, and a median-priced home there with 20% down is a conforming loan.
| County | 2026 one-unit limit | Conforming ceiling at 20% down | Median home value | Median home, 20% down |
|---|---|---|---|---|
| San Francisco County, CA | $1,249,125 | $1,561,406 | $1,461,700 | Conforming |
| San Mateo County, CA | $1,249,125 | $1,561,406 | $1,211,700 | Conforming |
| Santa Clara County, CA | $1,249,125 | $1,561,406 | $1,211,400 | Conforming |
| Alameda County, CA | $1,249,125 | $1,561,406 | $1,094,200 | Conforming |
| Santa Barbara County, CA | $941,850 | $1,177,312 | $1,074,600 | Conforming |
| Santa Cruz County, CA | $1,249,125 | $1,561,406 | $1,064,600 | Conforming |
| Orange County, CA | $1,249,125 | $1,561,406 | $892,200 | Conforming |
| Napa County, CA | $1,017,750 | $1,272,187 | $855,600 | Conforming |
| Contra Costa County, CA | $1,249,125 | $1,561,406 | $816,600 | Conforming |
| Los Angeles County, CA | $1,249,125 | $1,561,406 | $785,000 | Conforming |
| San Diego County, CA | $1,104,000 | $1,380,000 | $781,200 | Conforming |
| Ventura County, CA | $1,035,000 | $1,293,750 | $760,700 | Conforming |
| San Benito County, CA | $1,249,125 | $1,561,406 | $740,500 | Conforming |
| Monterey County, CA | $994,750 | $1,243,437 | $676,700 | Conforming |
| Boulder County, CO | $879,750 | $1,099,687 | $822,700 | Conforming |
| Douglas County, CO | $862,500 | $1,078,125 | $652,700 | Conforming |
| Denver County, CO | $862,500 | $1,078,125 | $596,300 | Conforming |
| Broomfield County, CO | $862,500 | $1,078,125 | $570,100 | Conforming |
| Jefferson County, CO | $862,500 | $1,078,125 | $568,900 | Conforming |
| Arapahoe County, CO | $862,500 | $1,078,125 | $558,900 | Conforming |
| Adams County, CO | $862,500 | $1,078,125 | $448,700 | Conforming |
In 2026 a median-priced home with 20% down is a conforming loan in every county Ralo prices, including the most expensive ones; the jumbo line matters only above the ceiling column. Limits from the Federal Housing Finance Agency (FHFA). Each county page carries its full limit table and Ralo’s priced rate grid.
Conforming Conventional Loan
A conventional loan at or below the county limit, eligible for sale to Fannie Mae or Freddie Mac. Priced off published guidelines, so lenders compete mostly on margin.
Jumbo Loan
A conventional loan above the county limit. No agency buyer, so each lender sets its own rate, down payment, reserve and documentation rules.
Side-by-Side Comparison
| Feature | Conforming | Jumbo |
|---|---|---|
| What decides it | Loan amount at or below the county’s FHFA limit | Loan amount above the county’s FHFA limit |
| Who ends up owning the loan | Usually Fannie Mae or Freddie Mac | The lender’s own balance sheet or a private investor |
| Rate | Set off agency pricing plus the lender’s margin; a high-balance loan carries an agency adjustment | Set by each lender; can be above or below conforming on the same day, so the spread between lenders is wider |
| Down payment | As low as 3% on some agency programs; 20% avoids mortgage insurance | Lender-set; larger minimums are common, and the minimum often steps up with the loan size |
| Reserves after closing | Agency rules, often none for a primary residence | Lender-set, usually counted in months of payments and rising with the loan size |
| Appraisal | One appraisal; some loans qualify for a waiver | One appraisal; some lenders require two above a size they set |
| Where it shows on your Loan Estimate | “Loan Type: Conventional”; nothing on the form says conforming | “Loan Type: Conventional” as well; you tell them apart by the amount against the county limit |
When to Choose Each Option
Choose Conforming If:
- Your loan amount is under the county limit, or can be with a slightly larger down payment
- You want the widest choice of lenders and the most predictable underwriting
- You are putting down less than 20% and want agency mortgage insurance rules
- You may refinance later and want the loan to stay agency-eligible
Choose Jumbo If:
- The home’s price puts the loan well above the limit even with a large down payment
- A lender is pricing jumbo below conforming on your scenario, which happens
- You have the reserves and documentation a jumbo lender asks for
- You want one loan rather than a conforming first and a second lien
The Bottom Line
Find your county’s limit first, then compare the loan you need against it. If you are within reach of the line, a larger down payment or a conforming first mortgage with a second lien usually prices better than a jumbo, but not always: jumbo pricing is lender-specific, and some lenders want that business. Ralo prices both from one application across the lenders on its panel, so you see the conforming and jumbo versions of your loan side by side with their APRs before deciding. Ralo is a mortgage broker, not a lender, and earns a thin commission from the lender you choose, whichever way you go.
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