Jumbo Loans

For homes that go beyond the limit.

Jumbo loans finance homes priced above conforming loan limits — whether you're purchasing or refinancing — common in higher-cost markets or for luxury properties. Because they aren't backed by Fannie Mae or Freddie Mac, they're underwritten a bit differently.

Financing a higher-priced purchase or refinance?

Is this you?

A common fit if you’re …

Buying above conforming loan limits

Jumbo loans finance homes that cost more than conventional limits allow.

Bringing strong credit and a larger down payment

Because jumbo loans aren't backed by Fannie Mae or Freddie Mac, lenders look for stronger financial profiles.

Purchasing in a higher-cost market

In expensive metro areas, even a typical home purchase can require jumbo financing.

Refinancing a larger loan balance

Jumbo refinances work the same way as jumbo purchases — for loan amounts above conforming limits, whether you're lowering your rate or taking cash out.

FAQ

Common questions

What makes a loan “jumbo”?

Any loan amount above the conforming loan limit set annually by the Federal Housing Finance Agency is considered jumbo. These limits vary by county and property type.

Do jumbo loans have higher rates?

Not always — jumbo rates are sometimes comparable to or even lower than conforming rates, depending on market conditions and your financial profile.

How much down payment do I need for a jumbo loan?

It varies by lender and loan amount, but many jumbo programs ask for 10–20% down, along with strong credit and reserves.

Can I refinance a jumbo loan?

Yes — jumbo refinances are available for rate-and-term or cash-out purposes, and the same stronger credit and reserve guidelines that apply to jumbo purchases generally apply to jumbo refinances as well.