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Jumbo Mortgage

Jumbo mortgages are defined by a loan amount that exceeds the maximum amount that Fannie Mae and Freddie Mac will loan, otherwise called the conforming loan limit.

Definition of a Jumbo Mortgage

 

Jumbo mortgages are defined by a loan amount that exceeds the maximum amount that Fannie Mae and Freddie Mac will loan, otherwise called the conforming loan limit. Currently, the conforming loan limit is set at $453,100, so if you are looking to obtain a mortgage above that amount, you must either pay for anything over $453,100 in cash or obtain a jumbo mortgage.

 

Benefits of a Jumbo Mortgage

 

Jumbo mortgages have one main benefit and that is the ability to obtain conventional financing above the conforming loan limit of $453,100.

 

Other Jumbo Mortgage Considerations

 

Tighter Qualification Standards

Jumbo mortgages have more stringent qualification standards than most other mortgages because the lender is taking on more risk by loaning a higher balance. Additionally, because payments are higher, more income and lower debt-to-income ratios are also generally required.

 

Higher Pricing

Jumbo mortgages typically higher interest rates than other mortgages as well. This is further risk protection placed by the lender.

Adjustable-Rate Mortgage Eligibility Requirements in 2026

DOWN PAYMENT

5% of the final loan amount

TERMS

15, 30 years, fixed and variable

CREDIT SCORE

680 minimum score

MORTGAGE INSURANCE

No

MAXIMUM LOAN AMOUNT

$2,500,000

Our Extensive Loan Product Offering Includes:

We leverage advanced lending technology to enhance every stage of the loan journey — from instant calculations and eligibility checks to secure document processing. This platform-driven approach allows us to deliver faster responses while maintaining accuracy and compliance.

  • Conventional Loans (including low down payment options)
  • FHA Loans
  • VA Loans (even for borrowers with credit challenges)
  • USDA Loans
  • Jumbo Loans
  • HELOCs and Home Equity Loans
  • Reverse Mortgages
  • 2-1 Buydowns (help your clients reduce their initial monthly payments)
  • Down Payment Assistance Programs (DPA)
  • Non-QM Loans (for borrowers who don’t fit traditional lending criteria)
  • DSCR Loans (multiple ways to structure for investors)
  • Bank Statement Loans (for self-employed borrowers)
Frequently Asked Questions

Jumbo Mortgage

What is a Jumbo Mortgage?
A jumbo mortgage is a home loan that exceeds the conforming loan limits set by the Federal Housing Finance Agency. Because they’re not eligible for purchase by Fannie Mae or Freddie Mac, they carry stricter lending requirements.
When do you need a Jumbo loan?
You typically need a jumbo loan when purchasing high-value or luxury properties where the loan amount exceeds conforming limits (which vary by location and are higher in expensive housing markets).
What are the qualification requirements?
Jumbo loans usually require higher credit scores (often 700+), larger down payments (10–20% or more), low debt-to-income ratios, and significant cash reserves.
Are Jumbo mortgage rates higher than conventional loans?
They can be slightly higher due to increased lender risk, but rates vary by lender, borrower profile, and market conditions—and in some cases may be competitive with conventional loan rates.

Interest Rates, APR’s & programs are illustrations subject to change at any time. These do not constitute a ‘Loan or Good Faith Estimate’ for payments and closing costs. Not all applicants will qualify. APR may vary by product type. Consumer is not obligated to use any party mentioned. Lender Express Mortgage is not affiliated with FHA, VA, USDA or the Federal Government. Lender Express Mortgage, LLC supports Equal Housing Opportunity (www.nmlsconsumeraccess.org) | (888) 286-0367 | 2500 S Power Rd Bldg 9 Ste 133, Mesa, AZ 85209. Regulated by the AZ Department of Financial Institutions. Arizona License #MB-1008082, CA #60DBO-140688, CO #MB-1963444, FL #MBR4665, IA #1963444, OR #1963444, PA #79751, TX #1963444. Figure: 7 tac § 80.200(b) consumer wishing to file a complaint against a company or a residential mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the department website at www.Sml.Texas.Gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.Sml.Texas.Gov. Above information and content is accurate as of 6/22.