Jumbo Loans
Financing for luxury properties and homes in highly competitive real estate markets that exceed standard loan limits.
Check Jumbo Loans RatesWhat is a Jumbo Loans?
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The Federal Housing Finance Agency (FHFA) sets maximum limits for conforming loans annually.
Because jumbo loans cannot be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac, lenders take on more risk and require stricter qualifying criteria.
Who is this for?
High-income earners looking to buy luxury homes or properties in highly expensive housing markets.
Pros
- Allows you to borrow more than the conforming loan limit
- Prevents you from needing multiple loans to buy an expensive home
- Interest rates are often competitive with conventional loans
Cons
- Requires excellent credit (usually 700+)
- Typically requires a larger down payment (10-20%+)
- Stricter debt-to-income requirements
- Requires proof of significant cash reserves
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