Above conforming limits · Purchase & refinance
Jumbo mortgage loans
- Loans above the conforming limit
- Often no mortgage insurance
- Fixed-rate or ARM options
What is a jumbo loan?
A jumbo loan is a mortgage that exceeds the conforming loan limit set by the Federal Housing Finance Agency for your county, so it cannot be sold to Fannie Mae or Freddie Mac. Jumbo loans typically require a 700 or higher credit score, 10% to 20% down, and 6 to 12 months of reserves.
Ways to set it up
Choose these when you lock your rate. You’ll see the cost of each option in dollars.
What you need to qualify
| Requirement | Guideline | Notes |
|---|---|---|
| Loan amount | Above $832,750 | The 2026 baseline conforming limit; higher in designated high-cost counties |
| Minimum credit score | 700 | 720–740+ for better pricing and a smaller down payment |
| Down payment | 10% – 20% | 10% down available to about $1.5M; 20% common above $2M |
| Debt-to-income (DTI) | Up to 43% | Some lenders allow 45% with strong reserves |
| Reserves | 6 – 12 months of payments | More for second homes or very large loans |
| Documentation | Full income and asset docs | Two years of tax returns typical for self-employed borrowers |
Check the basics
A quick starting point, not an approval. Three questions, no credit check. Your full application confirms income, assets, and more.
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An estimate based on typical guidelines. Not a pre-approval or commitment to lend.
Pros and cons
Pros
- Borrow well above the conforming limit
- Usually no mortgage insurance
- Rates often close to conforming loans
- Fixed or ARM options
Cons
- Needs 700+ credit and 10–20% down
- Large cash reserves required after closing
- Full documentation and sometimes two appraisals
Common questions
What makes a loan a jumbo loan?
Any loan amount above the conforming limit for the county where the property is located. In most counties, that means loans above the 2026 baseline limit of $832,750.
Are jumbo rates higher than conventional?
Not always. Jumbo rates are often close to conforming rates and sometimes lower, because lenders keep them on their own balance sheets and compete for strong borrowers.
How much down payment do I need for a jumbo loan?
Typically 10% to 20%. Loans up to about $1.5 million are often available with 10% down; larger loans usually need 20% or more.
Do jumbo loans require mortgage insurance?
Usually not, even with less than 20% down. Lenders build the risk into the rate instead, or structure a first and second lien.
What credit score is required for a jumbo loan?
700 is a common minimum. Scores of 740 and above get better pricing and more flexible down payment options.
What are jumbo reserve requirements?
Most lenders want 6 to 12 months of total housing payments in liquid or retirement accounts after closing, more for second homes or loans over $2 million.
Can I avoid a jumbo loan with a piggyback?
Often yes. A conforming first mortgage plus a second lien or HELOC can keep the first loan under the limit and may lower your blended rate.
Are jumbo ARMs a good idea?
A 7/6 or 10/6 jumbo ARM can carry a meaningfully lower rate than a 30-year fixed. It makes sense if you expect to sell or refinance within the fixed period.
Keep exploring
See what a jumbo loan costs for you.
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Disclosures
- Jumbo guidelines, reserves, and pricing vary by investor and are subject to change.
- Rates, terms, and programs are subject to change without notice and to credit and property approval. Not all applicants will qualify.
- Lendid Loans, LLC is a licensed mortgage broker in Texas, Florida, Colorado, and Oklahoma. All loans originated through Lendid Direct are brokered by Lendid Loans, LLC. This is not a commitment to lend. Programs, rates, terms, and conditions are subject to change without notice. All loans subject to credit approval. NMLS# 1470572.
- Equal Housing Opportunity.