WE’RE HERE TO HELP YOU

Get a Jumbo Home Loan

A jumbo home loan, also known as a jumbo mortgage, is a type of mortgage loan that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. In 2021, the conforming loan limit is $548,250 for most areas of the United States, although it can be higher in some high-cost areas.

What is a Jumbo Home Loan?

A jumbo home loan, also known as a jumbo mortgage, is a type of mortgage loan that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. In 2021, the conforming loan limit is $548,250 for most areas of the United States, although it can be higher in some high-cost areas.


Jumbo home loans are designed for borrowers who need to finance a larger home or property that exceeds the conforming loan limit. Because jumbo loans are considered higher risk by lenders, they typically require a larger down payment, a higher credit score, and more stringent income and asset requirements than conforming loans.


Jumbo loans can be fixed-rate or adjustable-rate mortgages, and may come with higher interest rates and fees than conforming loans. However, for borrowers who need to finance a larger home or property, a jumbo home loan can provide the necessary funding to make the purchase.


Before applying for a jumbo home loan, it's important to carefully consider the potential benefits and drawbacks of this type of loan. Borrowers should also be prepared to meet the credit and income requirements set by the lender, and should carefully read and understand the terms of the loan before signing on the dotted line.

Get a Quote

Put your mortgage to work for you

Cash out

Leverage your investment and take advantage of the equity your home has built for years.

Great For

Renovating your home

Paying down high-interest debt

Use my equity

Lower payments

Increase your financial security by refinancing to lower your monthly mortgage payment.

Great For

Increasing cash flow

Saving for retirement

Lower my payment

Reduce loan term

Why wait when you can refinance into a shorter term and pay your mortgage off.

Great For

Reducing interest
Paying off mortgages faster

Reduce my term

FAQs

Got a question? We’re here to help.

  • How does a jumbo home loan work?

    With a jumbo home loan, the borrower can finance a larger home or property that exceeds the conforming loan limit. Because jumbo loans are considered higher risk by lenders, they typically require a larger down payment, a higher credit score, and more stringent income and asset requirements than conforming loans.

  • What are the benefits of a jumbo home loan?

    The main benefit of a jumbo home loan is that it allows borrowers to finance a larger home or property that exceeds the conforming loan limit. This can be beneficial for borrowers who need to purchase a more expensive property and have the financial means to meet the eligibility requirements for a jumbo loan.

  • What are the drawbacks of a jumbo home loan?

    Jumbo loans often come with higher interest rates, fees, and more stringent eligibility requirements than conforming loans. Additionally, jumbo loans may be more challenging to obtain in certain economic conditions or for borrowers with less-than-perfect credit.

  • Who is eligible for a jumbo home loan?

    Eligibility requirements for a jumbo home loan will vary depending on the lender and the borrower's financial situation. Generally, borrowers must have a good credit score, a steady source of income, and a substantial down payment to qualify for this type of loan.

  • How do I choose the right jumbo home loan?

    When choosing a jumbo home loan, comparing interest rates, fees, and terms from multiple lenders is essential to find the best option for your financial situation. It would be best if you also understood the loan terms clearly, including the repayment schedule and any penalties for late payments or prepayment.

  • Can I refinance a jumbo home loan?

    Yes, a jumbo home loan can be refinanced, although certain eligibility requirements must be met. Refinancing can help borrowers lower their monthly mortgage payments or shorten the term of their loan.

  • What are the eligibility requirements for a jumbo home loan?

    Eligibility requirements for a jumbo home loan typically include a good credit score, a high income, and a large down payment. Borrowers should expect more stringent requirements than those for conforming loans.

Share by: