Jumbo Loans
Financing for homes above conforming loan limits.
A jumbo loan is a mortgage that exceeds the conforming loan limit set by the Federal Housing Finance Agency. Because jumbo loans are held on lender balance sheets or sold to private investors, they require stronger credit, larger reserves, and more thorough documentation than conforming loans.
What a Jumbo Loan Looks Like
A quick read on who this program fits, what it takes to qualify, and where the money goes - so nothing feels like a surprise.
Who It’s For
Financing for homes above conforming loan limits.
- Buyers in higher-priced markets or luxury homes
- Move-up buyers with substantial equity
- High-income earners with strong credit and reserves
How You Qualify
Underwriting reviews credit, income, and the property together to build the loan.
- Credit score typically 700+ (740+ for best pricing)
- Substantial cash reserves (often 6–12 months of payments)
- Full income and asset documentation
What It Costs
10%–20% down is common. Larger down payments unlock better pricing and may waive reserve requirements. - Because loan sizes are larger, closing costs in absolute dollars are higher - but as a percentage of the loan they are similar to conforming loans.
- Finance homes well above conforming limits
- Competitive rates for qualified borrowers
- Down payments starting around 10%–20% depending on program
What You’ll Need to Qualify
- Credit score typically 700+ (740+ for best pricing)
- Substantial cash reserves (often 6–12 months of payments)
- Full income and asset documentation
- Lower debt-to-income ratio than conforming loans
Have These Ready
- Two years of tax returns (personal and business if applicable)
- Two months of bank and investment statements
- Proof of reserves
- Recent pay stubs
- Full asset and liability picture
Not Sure If You Qualify Yet?
A licensed loan advisor will walk your numbers with you - no credit pull, no obligation. You’ll leave the call knowing exactly what to fix first.
The Upside - and What to Weigh
Every program has trade-offs. Here’s the honest picture side by side, without the marketing gloss.
Benefits
- Finance homes well above conforming limits
- Competitive rates for qualified borrowers
- Down payments starting around 10%–20% depending on program
- Fixed and adjustable options
Considerations
- Higher down payment expectations
- Stricter underwriting scrutiny
- Rates and pricing more sensitive to market changes
- Buyers under conforming loan limits (a conventional loan is usually cheaper)
- Borrowers with under 12 months of reserves
- Buyers with credit under 700 in most markets
Run the Numbers on a Jumbo Loan
Adjust the price, down payment, and rate to see an estimated monthly payment. Great for narrowing the search before you formally apply - a quick preapproval confirms your real numbers.
Estimate only. Taxes, insurance, and PMI vary by location and loan program.
Get Preapproved
From Application to Keys in Expect 30–45 days from application to close, with additional time for detailed asset and income verification.
- 01Apply
Quick online form or a 10-minute call.
- 02Verify
Income, assets, and credit reviewed together.
- 03Appraisal
Property value confirmed for the loan amount.
- 04Close
Sign, fund, and get your keys.
More for Jumbo Loans Shoppers
Compare Similar Programs
Run the Numbers
Read up Before You Apply
- Credit Score Basics for Mortgage Borrowers
What score lenders actually pull, the two levers that move it fastest, and quick wins before you apply.
Open - Debt-to-Income Ratio: How Lenders Read Yours
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Open - What Actually Moves Mortgage Rates
Fed decisions get the headlines, but the 10-year Treasury and MBS market drive the pricing - here's how the chain actually works.
Open
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Questions We Hear About Jumbo Loans
Can’t find yours here? A licensed advisor can walk through your specific situation in under 15 minutes.
Straight answers, no pressure - email or call directly.
See if a Jumbo Loan Fits Your Situation.
A 10-minute preapproval gives you real numbers and a licensed advisor to answer questions - no pressure, no obligation.