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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

Arnold Herrera

Loan Officer | NMLS #1690024

It’s my duty to make sure that every client has a great experience in one of their major milestones in their lives. My tenacity has helped many clients achieve home ownership and I’m here to do the same for you and your family.

Corp NMLS #214519 | Equal Housing Lender

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Is a Jumbo Loan right for you?

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