All Loan Programs
Jumbo Loans
Financing for luxury and high-value properties above conforming limits.
10%
Min. Down Payment
680+
Min. Credit Score
43%
Max DTI
Overview
Jumbo loans exceed the conforming loan limits set by Fannie Mae and Freddie Mac, making them ideal for purchasing luxury properties or homes in high-cost areas. While they require stronger qualifications, jumbo loans offer competitive rates and flexible terms for well-qualified borrowers.
Key Benefits
- Loan amounts above conforming limits ($766,550+)
- Competitive interest rates
- Fixed and adjustable rate options
- Available for primary and second homes
- Terms up to 30 years
Requirements
- 1Minimum credit score of 680-700
- 2Down payment of 10-20%
- 3Strong income verification and reserves
- 4Lower debt-to-income ratio required
- 5Two appraisals may be required
Frequently Asked Questions
What is a jumbo loan?+
A jumbo loan is a mortgage that exceeds the conforming loan limits ($766,550 in most areas, higher in high-cost areas). Since they cannot be purchased by Fannie Mae or Freddie Mac, they have different qualification requirements.
Are jumbo loan rates higher?+
Not necessarily. Jumbo loan rates are often very competitive with conventional rates and can sometimes be even lower, especially for well-qualified borrowers with strong credit and significant assets.
How much do I need down for a jumbo loan?+
Most jumbo loans require 10-20% down, though some programs offer lower down payment options for highly qualified borrowers. Larger down payments often result in better rates.
Interested in Jumbo Loans?
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