Loan Programs
Jumbo Loans
Financing for homes above the conforming loan limit. Bigger loan, same personal service, with rates from multiple jumbo lenders.
What Is a Jumbo Loan?
A jumbo loan is any mortgage that exceeds the conforming loan limit set by the Federal Housing Finance Agency. For 2025, that limit is $806,500 in most of the country (higher in designated high-cost areas). If you're buying a home that requires a loan above that amount, you need a jumbo loan, and the rules are different from conventional financing.
Because jumbo loans can't be purchased by Fannie Mae or Freddie Mac, lenders take on more risk. That means stricter requirements: higher credit scores, larger down payments, more reserves, and thorough documentation. The upside is that jumbo rates have become very competitive in recent years, often comparable to conforming rates for well-qualified borrowers.
As a broker, this is where having access to multiple jumbo lenders really matters. Every lender has different jumbo overlays, rate sheets, and risk tolerance. I shop multiple options to find the best combination of rate, down payment requirement, and reserve flexibility for your specific situation, rather than being stuck with whatever one bank offers.
Key Benefits
Higher Loan Amounts
Finance homes well above the $806,500 conforming limit. Whether it's $900K or $3M+, jumbo products exist to match the property value.
Competitive Rates
Jumbo rates have narrowed significantly and are often within a quarter point of conforming rates. With strong credit and reserves, you can get excellent pricing.
Multiple Lender Options
Every jumbo lender has different guidelines. I compare options across multiple lenders to find the best rate, lowest down payment, and most flexible reserve requirements for your profile.
No PMI Starting at 10% Down
Many jumbo programs are structured without traditional PMI once you are at 10% down or more, depending on the lender, loan amount, and your profile. Terms vary, but you are not stuck waiting until 20% to avoid mortgage insurance on the right jumbo option.
Requirements
- ✓ Credit Score: 700+ minimum for most lenders. 720+ opens the best pricing.
- ✓ Down Payment: Typically 10-20% depending on loan amount and lender. Some programs offer 10% down up to $1.5M.
- ✓ Reserves: 6-12 months of mortgage payments in liquid assets after closing.
- ✓ DTI Ratio: Generally capped at 43%, though some lenders allow up to 45% with strong compensating factors.
- ✓ Documentation: Full documentation including 2 years of tax returns, W-2s, and 2 months of bank statements.
Who Is This For?
Jumbo loans serve buyers in the higher end of the market who need financing above conforming limits. Ideal for:
- → Buyers purchasing homes priced above $806,500
- → High-income professionals, doctors, attorneys, executives, business owners
- → Buyers with excellent credit and strong reserves
- → Homeowners refinancing existing jumbo mortgages for better terms
- → Luxury property buyers who want broker-level rate shopping
Frequently Asked Questions
Need financing above the conforming limit?
I'll shop multiple jumbo lenders and find you the best combination of rate and terms.