For Homes That Go
Beyond the Standard Limit
Higher loan amounts, competitive rates, and more flexibility than most people expect. If your purchase price pushes past the conforming limit, here's what to know.
What Is a Jumbo Loan?
A jumbo loan is a mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac — in most areas, $806,500 for 2025 (higher in some high-cost counties). Because they can't be sold to Fannie/Freddie, lenders hold them in-house and set their own qualifying guidelines.
Is This Loan Right for You?
✔ Great fit if…
- The home price exceeds conforming loan limits in your area
- You have strong credit (typically 700–720+)
- You have significant reserves beyond your down payment
- Your income is well-documented and stable
✗ May not be the best fit if…
- Your purchase price falls within conforming limits
- Your credit or reserves don't meet jumbo guidelines
- You're looking for low down payment options
The Numbers at a Glance
| Loan amount | Above conforming limit (~$806,500 in most areas for 2025) |
| Down payment | Typically 10–20%+ |
| Credit score | Usually 700–720 minimum |
| Cash reserves | 6–12+ months of mortgage payments typical |
| Income documentation | Full documentation usually required |
| PMI | Varies by lender and down payment |
What People Get Wrong About Jumbo Loans
Jumbo rates are often competitive with — and sometimes even lower than — conventional rates, depending on market conditions and your lender. The spread varies and it's worth comparing.
Some lenders offer jumbo loans with as little as 10% down for well-qualified borrowers. Requirements vary by lender, which is exactly why it helps to shop with someone who knows the landscape.
They do have stricter qualifying standards — but if your financials are solid, the process is straightforward. The key is working with someone who knows which lenders have the most favorable jumbo guidelines.