Jumbo Loans
Jumbo loans exceed the conforming loan limits set each year by Fannie Mae and Freddie Mac. They're used for higher-priced homes and typically require stronger credit, larger reserves, and a bigger down payment.
Best for: Buyers of higher-value homes whose loan amount exceeds the conforming limit for their county.
Key features
- Finance high-value and luxury properties
- Competitive rates for strong borrowers
- Fixed and adjustable options
- Single loan instead of stacking financing
Typical requirements
- Higher credit scores (often 700+)
- Larger down payment (commonly 10–20%+)
- Several months of cash reserves
- Lower debt-to-income ratio and full documentation
Jumbo Loans FAQ
What makes a loan 'jumbo'?
Any loan amount above the conforming limit for the county where the property is located. The limit changes annually and is higher in expensive markets.
Are jumbo rates higher?
Not always. For strong borrowers, jumbo rates can be competitive with — or even below — conforming rates, depending on the lender and market.
How much do I need to put down on a jumbo loan?
Often 10–20% or more, though some programs allow less for well-qualified borrowers. Requirements vary widely by lender, which is why shopping matters.
See any unfamiliar terms? Check the mortgage glossary.
Jumbo Loans by state
Explore jumbo loans in the markets we serve: