Jumbo Loans
Purchase or refinance a higher-priced home with confidence.
What are Jumbo Loans?
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency. Because these loans are larger and cannot be purchased by Fannie Mae or Freddie Mac, underwriting is more detailed.
Jumbo financing is available for primary homes, second homes and investment properties, with fixed and adjustable options.
Benefits
- Finance higher-priced homes in competitive markets
- Fixed and adjustable rate options
- Primary, second home and investment property options
- Competitive rates for well-qualified borrowers
- Flexible terms
Requirements
- Strong credit history
- Larger down payment than most conventional loans
- Cash reserves after closing
- Full documentation of income and assets
- Full appraisal, sometimes more than one
Frequently asked questions
What is the jumbo loan limit?
The conforming limit is set by the FHFA and varies by county. A loan above your county's limit is a jumbo loan.
How much down payment is needed?
Typically more than a conventional loan. The amount depends on the loan size, credit and property type.
Are jumbo rates higher?
Not always. Well-qualified borrowers can often find rates close to conforming loans.
Can I refinance into a jumbo loan?
Yes. We can review a jumbo refinance for rate, term or cash-out goals.
Programs, rates and eligibility are subject to change and to underwriting approval. This page is general information and not a commitment to lend.
Get pre-approved for a Jumbo Loan today
Register through our secure online application and get your pre-approval or rate quote faster.