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Above the conforming limit, without the conforming compromises.

A jumbo loan finances homes priced above the Fannie Mae and Freddie Mac limit for the county. Strong credit and reserves unlock down payments as low as 10%, and with 20% down there is no mortgage insurance at any loan size.

Loan amountAbove the conforming limit
Minimum down10% to 20%
Minimum credit700 typical
Reserves6 to 12 months of payments
See if I qualifyCall (800) 511-3330
4.4 on Google · 214 reviewsNMLS 13988Licensed in 15 states + DC
Who it's for

Is the Jumbo purchase loan right for you?

  • Buyers in higher-cost markets or of larger homes
  • Professionals with strong income and credit
  • Buyers who want to keep 10% to 20% down rather than more
  • Second-home buyers above the conforming limit
How it works

Three steps from here to closing.

Pre-approval

Full income, asset and reserve review. Jumbo underwriting is more thorough, so we front-load it.

Offer and appraisal

Some jumbos above a certain size require two appraisals.

Underwriting to closing

Closings run about 30 to 45 days.

What you'll need

Requirements at a glance.

  • Credit score typically 700 or higher (720+ for the lowest down payments)
  • Down payment of 10% to 20% depending on loan size and credit
  • Reserves of 6 to 12 months of payments after closing
  • Debt-to-income ratio generally up to 43%
  • Two years of income history; self-employed borrowers can use bank statement jumbo
Straight talk

The upside, and what to weigh.

Why people choose it

  • No mortgage insurance with 20% down at any loan amount
  • Competitive fixed and adjustable options
  • Interest-only and asset-based versions available

Things to consider

  • Stricter credit, reserve and documentation standards
  • Larger loans may need two appraisals
Common questions

Asked on almost every first call.

What is the conforming limit?

It changes every year and is higher in high-cost counties. Anything above it is jumbo. We will tell you the number for your county.

Can I put less than 20% down?

Yes, 10% is possible with strong credit and reserves, sometimes with mortgage insurance or a piggyback second.

Are jumbo rates higher?

Not always. Jumbo pricing is often at or below conforming for strong borrowers.