Loan programs
Jumbo loans
A jumbo loan is larger than the conforming limit for its county, so Fannie Mae and Freddie Mac do not buy it. Each lender sets its own rules, which is why shopping one file across many lenders matters most here.
Who it fits
- Higher-priced homes
- Borrowers with strong credit and reserves
- Self-employed borrowers with complex income (some jumbo programs take alternative documentation)
What to know
- Lenders typically want more equity, more reserves and stronger credit than for a conforming loan.
- Pricing varies widely between lenders, and sometimes beats conforming pricing.
- Interest-only and adjustable options exist for buyers who want them.
What you'll need
- Two years of income documentation
- Asset statements showing reserves
- A credit check
Questions
Jumbo questions
Where does a jumbo loan start?
Above the conforming loan limit for the home's county. The limit is set each year by the FHFA and is higher in expensive counties, so the line moves with the address.
Get started
Talk through Jumbo options
A few details and Lucas will come back with real options and real numbers, usually the same business day.
- No cost and no obligation
- Answered by Lucas, not a call center
- Your information is never sold