Jumbo Loan Programs

A jumbo loan is a mortgage that exceeds the conforming loan limit set by the Federal Housing Finance Agency for your county. Jumbo loans finance higher value homes and luxury properties, and they typically require stronger credit, larger down payments and more financial documentation than standard conventional loans.

For 2026, the baseline conforming loan limit for a one unit property is $832,750 in most areas of the United States, and up to $1,249,125 in designated high cost counties. Any mortgage above the limit for your county is generally considered a jumbo loan.

Jumbo down payments typically range from 10% to 20%, depending on the lender, the loan amount, the property type and your qualifications. Borrowers with strong credit, stable income and significant reserves may qualify for a lower down payment, while larger loan amounts may require more equity.

Most jumbo programs require a credit score of at least 700, and stronger applications typically fall in the 720 to 760 or higher range. Lenders also review your income stability, debt to income ratio and cash reserves, and a higher score may help you secure a better rate.

Jumbo rates can be similar to or slightly higher than conventional rates, depending on market conditions and your qualifications. Because jumbo loans are not backed by Fannie Mae or Freddie Mac, lenders may apply their own risk guidelines when setting rates.

Expect a detailed financial review. Lenders typically ask for 2 years of tax returns, recent pay stubs or income verification, bank and asset statements, employment verification and information about your existing debts. Larger loan amounts usually mean a more thorough review during underwriting.

Yes. Self employed borrowers can qualify for jumbo loans, although lenders typically ask for extra documentation, such as 2 years of personal and business tax returns, profit and loss statements and bank statements. Some lenders also offer alternative documentation programs.

Jumbo loans can finance primary residences, second homes and vacation properties, including luxury homes and high value properties in competitive housing markets. Some lenders also finance investment properties. Eligibility varies by lender and by your qualifications.

Yes. Depending on the lender, jumbo loans can be fixed rate or adjustable rate, and some lenders offer interest only options. An adjustable rate jumbo loan starts with a lower rate that adjusts periodically, which often means lower payments at first.

The timeline for closing on a jumbo loan depends on how complex your financial documentation is and on the property appraisal, and getting preapproved before you shop can help speed things up.

Yes. A jumbo preapproval shows how much you can borrow and tells sellers you are a qualified buyer. It also lets your loan originator review your financial profile early and identify the jumbo programs that best fit your goals.