Jumbo.
Finances homes above the conforming loan limit ($832,750 in most counties). Different underwriting from Conventional — tighter on reserves and documentation, but no mortgage insurance, ever. Fifteen programs sit behind this page; your deal decides which one.
Strong files get sharp rates.
Above the $832,750 conforming line, underwriting tightens — bigger reserves, cleaner credit. But lenders compete hard for jumbo borrowers, rates can match or beat Conventional — and there's never mortgage insurance.
Fifteen programs. One of them fits.
Every card below is a different underwrite behind the same application. You don't shop them — that's my job. You just find your deal.
The standard case. 10% down with no mortgage insurance — jumbo doesn't do PMI at any leverage. 660 credit opens the door; 740+ gets the sharpest rate.
Loans run to $5 million. Reserves scale with size — figure 18–30 months of payments at the top — and purchases above $2M carry two appraisals.
Self-employed, stock-compensated, or income that doesn't fit a model — full manual underwriting runs alongside the automated path, with human judgment on exceptions.
At 80% financing or below, the entire down payment can be a gift on some programs. Above that, you bring 5% of your own funds first.
Acreage to 40–50 acres, condotels, co-ops, even homes carrying solar leases — each has a program built to take it when the standard ones won't.
A documented 10-year interest-only option, a full ARM menu, and rate buydowns on one program — the payment bends more ways than you'd expect.
Debt-to-income runs to 50% on some automated programs at 80% financing or below. High earners with real obligations still fit.
No mortgage insurance, period — jumbo prices risk in the rate. Full documentation; large deposits get sourced. Reserves start around six months of payments under $1M and scale to 18–30 at the top. Second homes and investment properties are covered — investment to $5M on the right program.
The numbers.
- Loan size
- Above $832,750 in most counties ($1.249M in high-cost areas), up to $5.0M. Minimums as low as $300K where state limits make small loans jumbo.
- Down payment
- 10% minimum (90% financing) on several programs; 20% on the strictest.
- Mortgage insurance
- None. On any program, at any leverage — the rate carries the risk instead.
- Credit score
- 660 floor on several programs (strictest 720). 740+ gets the best pricing; 760 on two.
- Debt-to-income
- To 50% on some automated programs. Compresses to 35–38% above 85% financing.
- Reserves
- About 6 months of payments under $1M, scaling to 18–30 months at $2.5M+. Second homes and investment run higher.
- Terms
- 15/20/30-year fixed; ARMs (5/6, 7/6, 10/6); a 10-year interest-only option; rate buydowns on one program.
- Appraisal
- One appraisal standard. Two above ~$2M purchases — thresholds vary by program.
- Gift funds
- 100% gift at ≤80% financing on some programs. Above 80%, you bring 5% of your own funds first.
- Underwriting paths
- Automated and full manual both exist. Every large deposit gets sourced and explained — come organized.
- Property reach
- Primary, second home, investment to $5M. Acreage to 50 acres, condotels, co-ops, and solar-lease homes on specific programs.
Not for you if your loan lands under the conforming limit (~$833k) — below that you're in Conventional territory, usually with simpler underwriting.
When a loan I offer isn't right for you, I'll say so — and point you to the one that is.
FAQ
When do I actually need a Jumbo?
Are Jumbo rates higher than Conventional?
Is there PMI on a jumbo?
Do I need 20% down for a Jumbo?
Can I do a piggyback to avoid Jumbo?
Are gift funds allowed on Jumbo?
I'm self-employed — can I still get a jumbo?
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