Jumbo loans
Financing above the conforming loan limit for the property location.
How it works
A loan above the applicable conforming limit is commonly called a jumbo loan. The limit changes by year and can differ in higher-cost counties. Jumbo loans follow each lender’s investor guidelines rather than one universal set of terms.
From first check to loan choice
- 1
Check the limit
Use the current limit for the property county and number of units.
- 2
Review the full file
The lender may examine income, credit, assets, reserves, property type, and appraisal in more detail.
- 3
Compare structures
Review fixed or adjustable rates, down payment, reserves, and total cash to close.
What affects your decision
Reserves
A lender may want proof of funds remaining after closing. The amount depends on the program.
Appraisal
Higher-value or unusual homes may need additional valuation review.
Lender variation
Rates, maximum loan size, down payment, and eligible property types differ. Ask for written comparisons.
Prepare for a conversation
Documents to have ready
Income and tax records, bank and investment statements, identification, and property details. Some lenders request extra asset or appraisal documents.
Ask this question
What conforming limit applies here, and how much must remain in reserves after closing?
This page is general education. Program terms, rates, fees, and eligibility depend on the lender and your application.
Compare the whole cost
Ask for a personalized estimate showing the rate, APR, total monthly payment, cash to close, and fees. Then compare the options side by side.
Get quick rate quote ↗