Jumbo loans finance amounts above the conforming loan limit set by the Federal Housing Finance Agency, which varies by county. Because these loans aren't purchased by Fannie Mae or Freddie Mac, lenders take on more risk — and generally ask for a stronger financial profile in return.
Generally a good fit if you...
- Are buying a home priced above the conforming loan limit in your area
- Have strong credit and healthy cash reserves
- Can comfortably document your income and assets
General guidelines
- Down payment: typically 10–20% or more
- Credit score: generally 700+
- Debt-to-income ratio: usually held to a tighter standard than conventional loans
- Reserves: lenders often want to see several months of mortgage payments in reserve after closing
Have your eye on a home above the conforming loan limit?
Every situation is different, and these are general guidelines — the fastest way to know where you stand is a quick conversation. Send us a message or visit our team page to apply directly.