I’m Michael DiVita — DRE #01372066 | NMLS #241655, DiVita Home Finance (DRE #01818285 | NMLS #323700), Tiburon, CA. I’ve been in California mortgage lending since 2000 and founded DiVita Home Finance in 2007. Call (800) 239-1103.
If you’re buying a home in Mill Valley, you’re almost certainly getting a jumbo loan. With a median price of $2.3M–$2.4M and a conforming loan limit of $1,249,125, even the most modest Mill Valley purchases land in jumbo territory — and at that median price, most buyers are deep into super-jumbo range. Here’s a complete guide to jumbo loan requirements, rates, and programs for Mill Valley buyers in 2026. See: bank deposit guide. See California’s 2026 conforming loan limits for current thresholds. Learn more about Bay Area jumbo loans in 2026.
What Is a Jumbo Loan?
A jumbo loan is any mortgage above the conforming loan limit — $1,249,125 in Marin County for 2026. Jumbo loans cannot be sold to Fannie Mae or Freddie Mac, so private lenders set their own underwriting standards. This means requirements vary significantly between lenders, and having access to multiple lenders through a mortgage broker is a genuine advantage.
Mill Valley Jumbo Loan Tiers
| Tier | Loan Amount | Min. Credit Score | Min. Down Payment | Typical Mill Valley Use |
|---|---|---|---|---|
| Standard Jumbo | $1.25M–$2M | 700–720 | 10%–20% | Tam Valley, Strawberry condos, entry homes |
| Super Jumbo | $2M–$4M | 720–740 | 20%–25% | Homestead Valley, downtown, most single-family |
| Ultra Jumbo | $4M+ | 740–760+ | 25%–30% | Canyon homes, architect estates, Cascade Dr. |
Key Qualifying Requirements
Credit Score
At the super-jumbo level where most Mill Valley buyers sit, a 720–740+ credit score is the target. Below 720 significantly limits your lender options. Above 760, you typically access the most competitive rates. The difference between a 720 and 760 score on a $2M loan can mean $8,000–$15,000 in annual interest savings.
Reserves
Jumbo lenders require substantial liquid reserves remaining after your down payment and closing costs. For Mill Valley purchases:
- Standard jumbo ($1.25M–$2M): 6–12 months of mortgage payments in reserves
- Super jumbo ($2M–$4M): 12–18 months of mortgage payments in reserves
- Ultra jumbo ($4M+): 18–24 months, sometimes more
At $15,000/month on a median purchase, 12 months of reserves means $180,000 in liquid assets that must remain untouched after closing.
Income Documentation
Standard jumbo loans require full income documentation: two years of tax returns, W-2s or 1099s, and recent pay stubs. For Mill Valley’s tech-heavy buyer pool, RSU income can be counted with two years of vesting history. Self-employed buyers with heavy deductions can use bank statement loan programs that calculate income from 12–24 months of deposits instead.
Debt-to-Income Ratio
Most Mill Valley jumbo lenders cap DTI at 43%–45%. Super-jumbo programs may be stricter at 40%–43%. This means all monthly debt obligations — including the new mortgage, taxes, insurance, car loans, student loans, and minimum credit card payments — cannot exceed 43%–45% of gross monthly income.
Jumbo Loan Rates in Mill Valley (Mid-2026)
| Loan Type | Rate Range | Best For |
|---|---|---|
| Jumbo 30-Year Fixed | 6.50%–7.00% | Long-term homeowners, certainty seekers |
| Jumbo 15-Year Fixed | 6.00%–6.50% | High-income buyers, faster payoff |
| Jumbo 7/1 ARM | 6.00%–6.50% | Buyers planning to move/refi in 5–7 years |
| Super Jumbo 30-Year Fixed | 6.75%–7.25% | $2M+ loans in Mill Valley |
| Bank Statement (Non-QM) | 7.00%–7.75% | Self-employed with strong cash flow |
Rates change daily. Contact DiVita Home Finance for a current rate quote specific to your loan amount, credit score, and down payment.
ARM vs. Fixed: What Makes Sense in Mill Valley
Mill Valley has historically seen strong appreciation — many buyers move up over time rather than staying in one home for 30 years. If you’re buying a $2M home today planning to trade up to a $3M home in 5–7 years, a 7/1 ARM at a lower rate can save $30,000–$60,000 in interest over that window. If you’re buying your forever home in a hillside canyon, a 30-year fixed gives you complete payment certainty regardless of where rates go.
Specialty Programs for Mill Valley Buyers
- Bank Statement Loans: For self-employed buyers with strong deposits but low taxable income — qualify on 12–24 months of bank deposits
- Asset Depletion Loans: For buyers with large investment portfolios — qualifying income calculated from total assets divided by loan term
- Portfolio Loans: Held by the lender rather than sold on the secondary market — more flexible underwriting for unique situations
- Interest-Only Jumbo: Available on some super-jumbo products — lower initial payment, useful for buyers with irregular income timing (year-end bonuses, equity events)
Need a Jumbo Loan for Mill Valley? Let’s Talk.
DiVita Home Finance specializes in jumbo and super-jumbo loans for Mill Valley buyers. We work with multiple lenders to match your financial profile — income type, assets, credit — to the program that offers the best terms. Get your pre-approval started today.
Frequently Asked Questions
What credit score do I need for a super-jumbo loan in Mill Valley?
Most super-jumbo lenders in Mill Valley require a minimum 720–740 credit score for loans in the $2M–$4M range. Ultra-jumbo programs above $4M typically require 740–760+. The difference between a 720 and a 760 score on a $2M loan can mean $8,000–$15,000 per year in interest — and determines which lenders will work with you. If your score is close to a threshold, spending 60–90 days improving it before applying can meaningfully change both your eligibility and your rate.
How much in reserves do I need for a Mill Valley jumbo loan?
Reserve requirements in Mill Valley vary by loan tier. Standard jumbo ($1.25M–$2M) typically requires 6–12 months of the full mortgage payment in liquid assets after closing. Super-jumbo ($2M–$4M) requires 12–18 months. At a median purchase with a $15,000/month PITI, 12 months of reserves means $180,000 that must remain in your accounts untouched after your down payment and closing costs are paid. Retirement accounts (401k, IRA) typically count at 60%–70% of their balance toward reserve requirements.
What’s the difference between a bank statement loan and a standard jumbo in Mill Valley?
A standard jumbo loan uses your tax return income to qualify — specifically your net income after all deductions. A bank statement loan uses 12–24 months of actual bank deposits to calculate qualifying income, bypassing tax returns entirely. For Mill Valley’s many self-employed buyers, business owners, and consultants who have significant write-offs, the bank statement program can result in 2–3x the qualifying income compared to what tax returns show. The tradeoff is a slightly higher rate — typically 0.25%–0.75% above standard jumbo rates.
Talk to Michael Directly
DiVita Home Finance | Tiburon, CA | In lending since 2000, founded DiVita Home Finance in 2007. Michael DiVita DRE #01372066 | NMLS #241655. Company DRE #01818285 | NMLS #323700.
💬 Text: (310) 849-9124
