Jumbo Loan
Premium financing beyond conforming limits.
High-balance mortgages for loan amounts that exceed conforming limits, often up to $5M and above.
What is a Jumbo loan?
Jumbo loans finance amounts exceeding Fannie Mae and Freddie Mac conforming limits. They typically require stronger credit, larger down payments, and more reserves than conventional loans.
Designed for
High-earning professionals and buyers financing higher-priced homes.
Why choose it
Jumbo financing enables purchases in high-cost markets and for higher-value homes where conforming loans fall short.
Common use cases
- ◆High-cost coastal and metro markets
- ◆Luxury primary residences
- ◆Second homes and vacation properties
- ◆High-value investment properties
Built for borrowers who look like this.
High-income professionals
Buying in high-cost markets.
Executive relocations
Financing higher-value primaries.
Second-home buyers
Coastal or resort market purchases.
Wealth builders
Combining jumbo with asset-based programs.
The advantages.
Large loan sizes
Financing well above conforming limits.
Competitive pricing
Jumbo pricing can rival conforming rates for strong profiles.
Flexible terms
Fixed, adjustable, and interest-only options.
Portfolio flexibility
Many jumbo programs are held on the lender's books.
Things to weigh.
Stronger credit expectations
Higher scores generally required.
Larger down payments
Often 10–20% or more.
Meaningful reserves
Substantial post-close reserves expected.
Full documentation
Traditional income, asset, and credit verification.
What lenders generally look for.
Requirements vary based on lender guidelines and borrower qualifications. The below is educational — not a commitment or offer of credit.
- Loan size
- Above conforming loan limits (varies by county)
- Credit expectations
- Strong credit typically required
- Down payment
- Often 10–20% or more
- Reserves
- Meaningful post-close reserves expected
Answers to what borrowers ask most.
What defines a jumbo loan?
Loan amounts above Fannie Mae / Freddie Mac conforming limits.
Are jumbo rates higher?
Not always. Strong borrowers often see competitive pricing.
What's the minimum down payment?
Varies by program, but larger than most conforming loans.
Are interest-only jumbos available?
Yes, from many portfolio lenders.
Can I use jumbo for a second home?
Yes, common.
Can I use jumbo for investment properties?
Some programs allow it.
Are asset-based jumbo programs available?
Yes — asset depletion and asset qualifier programs pair well with jumbo sizing.
Is PMI required?
Jumbo loans typically don't use traditional PMI.
How long does closing take?
Full documentation reviews can take longer than agency loans.
Can I refinance a jumbo loan?
Yes, rate-and-term and cash-out options exist.
Jumbo Mortgage Guide
Financing above conforming limits, explained.
Run the numbers.
Educate yourself.
Complementary programs worth exploring.
Conventional
A traditional mortgage backed by Fannie Mae or Freddie Mac guidelines, offering competitive rates and flexible terms.
Explore Conventional loan requirementsAsset Depletion
A mortgage program that qualifies borrowers using their liquid assets rather than traditional employment income.
Explore Asset Depletion loan requirementsAsset Qualifier
A streamlined program that qualifies borrowers using verified liquid assets, without requiring income documentation.
Explore Asset Qualifier loan requirementsConstruction
Financing for building a new home, with a single closing that converts to permanent financing once construction is complete.
Explore Construction loan requirementsAsk about Jumbo.
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