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For larger loan amounts that exceed conforming loan limits for more expensive properties

Loan Programs > Jumbo Loans

Jumbo Loan Quick Facts

10% Down

Minimum Down Payment


Minimum Credit Score


Max Debt-to-Income Ratio

What is a Jumbo Loan?

A Jumbo Mortgage is any single loan amount over the conforming loan limit set by Fannie Mae and Freddie Mac, which is currently $484,350 for a one-unit property in most of the United States. Conforming limits may be higher in areas of the country with more expensive housing; for example, the conforming limit is $726,525 in Alaska and Hawaii. Jumbo Mortgages are non-conforming loans, so they are not backed by Fannie Mae and Freddie Mac.

What are the benefits of a Jumbo Loan?

Jumbo Loans offer the following features:

  • Allow purchase of a more expensive home.
  • In some cases, no private mortgage insurance is required with a larger down payment.
  • Closing costs are about the same as other mortgage programs.
  • Flexibility to take advantage of refinance opportunities.

Who may benefit from a Jumbo Loan?

A Jumbo Loan may the right fit for you if:

  • You can afford a more expensive primary or second home and higher monthly payments.
  • You want a 15-year or 30-year fixed rate.

Sample Loan Scenarios:

Loan Scenario: $600,000 purchase price, $540,000 loan amount, 10% down payment, $4,655.53/month (PITI), 15-year fixed 5.125% interest rate, 5.208% APR. Subject to property type, loan-to-value, and credit score.

Loan Scenario: $600,000 purchase price, $480,000 loan amount, 20% down payment, $2,757.09/month (PITI), 30-year fixed 4.5% interest rate, 4.631% APR. Subject to property type, loan-to-value, and credit score.

Meet Your Mortgage Expert for
Jumbo Loans

Jaime Knott

Loan Officer | NMLS #513437

I’ve spent the last 10 years in the mortgage industry. I began my career as a loan officer and loan partner, which gives me a strong advantage to create seamless transactions for my clients.

Corp NMLS #214519 | Equal Housing Lender

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Is a Jumbo Loan right for you?

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