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Jumbo Loan
A Jumbo Loan is a mortgage option for high-value properties that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. Ideal for luxury homebuyers and those purchasing in expensive real estate markets, these loans offer large loan amounts but come with stricter qualification requirements. Borrowers typically need a higher credit score, larger down payment, and significant cash reserves to qualify. With competitive rates and flexible terms, a jumbo loan is the perfect financing solution for buyers looking to purchase high-end homes. If you’re planning to buy a luxury property, a jumbo loan can provide the funding you need.
A Reliable Home Loan You Can Trust.
High Loan Limits
Finance properties that exceed conventional loan limits, allowing you to purchase luxury or high-cost homes.
Flexible Terms
Jumbo loans offer a variety of repayment options to suit your financial situation.
Financing for High-Cost Areas
Ideal for purchasing homes in expensive real estate markets where prices exceed typical conforming loan limits.
Competitive Interest Rates
Although slightly higher than conventional loans, interest rates on Jumbo loans are still competitive.
Loan Guidelines
If your details are near these guidelines, we encourage you to apply or reach out. Even if you don’t qualify for a 30-year fixed-rate mortgage, we may have other options available.
The Home
Purchase a new home or refinance your current mortgage.
Credit Profile
A credit score above 620 is typically required.
Debt-to-Income
Your debt-to-income ratio (DTI) should be under 50%.
Closing Costs
Along with your down payment, you’ll need sufficient funds to cover closing costs.
Explore Your Potential
Our calculators help you understand and visualize your options
Mortgage Calculator
Planning to buy a home? Calculate your estimated monthly payments, including taxes and insurance.
Refinance Calculator
Considering refinancing your mortgage? Find out how much you could save.
Frequently Asked Questions
Have questions? We’ve got answers! Explore our FAQ section to find helpful information about loans, refinancing, and more. If you don’t see what you’re looking for, feel free to contact us—we’re here to help!
Who are Jumbo loan best for?
Jumbo loans are ideal for borrowers looking to finance high-value properties that exceed conforming loan limits. They’re typically best for those purchasing luxury homes or properties in high-cost areas.
How do Jumbo loan work?
Jumbo loans are non-conforming loans that exceed the loan limits set by the Federal Housing Finance Agency (FHFA). Since these loans aren’t backed by government agencies like FHA or VA loans, they often require higher credit scores, larger down payments, and stricter income requirements. Interest rates may be slightly higher than conventional loans due to the higher risk.
What are pros and cons of a Jumbo loan?
Pros:
- Allows for financing of high-value properties beyond conventional loan limits.
- Flexible loan terms and larger loan amounts available.
- Can finance luxury homes in high-cost areas.
Cons:
- Higher credit score requirements (typically 700+).
- Larger down payments (often 10-20% or more).
- Stricter income and debt-to-income ratio requirements.
What is the debt-to-income (DTI) ratio requirement for a Jumbo Loan?
Most lenders prefer a DTI ratio of 43% or lower, but some may allow higher with strong credit and cash reserves. A lower DTI improves approval chances and may secure better interest rates.