Jumbo Loans

A jumbo loan, also known as a jumbo mortgage, is a type of financing that exceeds the limits set by the Federal Housing Finance Agency (FHFA).

The Lowdown on Jumbo Loans...

Jumbo Loans

A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $647,200 in most counties, as determined by the Federal Housing Finance Agency (FHFA). Homes that exceed the local conforming loan limit require a jumbo loan.

Jumbo Loan Process

Here’s how our Jumbo Loan process works:

Step 1

Complete our simple mortgage pre-approval letter request

Step 2

Receive options based on your unique criteria and scenario

Step 3

Compare mortgage interest rates and terms

Step 4

Choose the offer that best fits your needs

Do I Qualify?

Also called non-conforming conventional mortgages, jumbo loans are considered riskier for lenders because these loans can’t be guaranteed by Fannie and Freddie, meaning the lender is not protected from losses if a borrower defaults. Jumbo loans are typically available with either a fixed interest rate or an adjustable rate, and they come with a variety of terms.

A jumbo loan is a type of financing that exceeds the limits set by the Federal Housing Finance Agency and cannot be purchased, guaranteed, or securitized
Homeowners must undergo more rigorous credit requirements than those applying for a conventional loan.
Approval requires a stellar credit score and a very low debt-to-income ratio.