Jumbo Loans
Financing above conforming limits, for higher-priced homes.
A jumbo loan is any mortgage that exceeds the conforming loan limit for the county where you are buying. Because the loan cannot be sold to Fannie Mae or Freddie Mac, it is underwritten to the investor's own guidelines.
That means the file matters more. Credit depth, reserves, and documentation carry real weight. It also means structure matters: sometimes a first mortgage plus a second beats a single jumbo, and sometimes it does not.
How jumbo underwriting differs
Expect a closer look at income continuity, asset seasoning, and reserves after closing. Appraisal requirements can be stricter, and a second appraisal is sometimes required on very large loan amounts.
- Fixed and adjustable structures are both available
- Interest-only options exist on some programs
- Pricing varies more between investors than on conforming loans
Why our approach helps here
Jumbo guidelines are not standardized. We can place your specific profile with the right investor instead of forcing it into one bank's box, which is often the difference between an approval and a decline.
Documents to gather
Jumbo files are documentation-heavy by design. Assembling these early prevents mid-process surprises.
- Two years of tax returns, W-2s, and year-to-date income documentation
- Two to three months of statements for every asset account, including retirement
- Documentation on all other properties owned, including taxes and insurance
- Letters of explanation for large deposits or recent credit inquiries
Advantages
- Finance the home you actually want without splitting loans
- Competitive pricing for strong borrowers
- Flexible structures across multiple investors
Things to consider
- Higher credit, reserve, and documentation standards
- Larger down payment is typical
- Appraisal requirements can be stricter
Common questions
What is the conforming limit?
It is set annually and varies by county. We will confirm the current limit for your target area and tell you whether your loan is jumbo.
Is 20% down required for jumbo?
Not always. Some programs allow less, though pricing and reserve requirements change accordingly.
How much in reserves will I need?
Expect anywhere from three to twelve months of housing payments depending on loan size, occupancy, and credit profile. Retirement accounts often count at a discounted value.
Program disclaimers
- * Higher interest rates apply
- ** For a 30-year, fixed-rate loan
- Program details are informational only and are not an offer for extension of credit or a commitment to lend. Terms are subject to change without notice.
Ready to explore Jumbo financing?
Start a conversation with a licensed loan officer, or begin your application whenever you're ready.