Jumbo Loan: Financing for High-Value Homes
What is a Jumbo Loan?
A Jumbo Loan is a mortgage designed for luxury homes and high-cost real estate that exceed the loan limits set by the Federal Housing Finance Agency (FHFA). Since jumbo loans are not backed by Fannie Mae or Freddie Mac, they require strong credit, higher income, and a larger down payment. This loan is ideal for buyers looking to purchase homes in competitive housing markets.
Why Choose a Jumbo Loan?
Higher Loan Amounts
Finance homes that exceed conforming loan limits.
Competitive Interest Rates
Rates are often comparable to conventional loans.
Flexible Loan Terms
Choose from fixed or adjustable-rate mortgages (ARM).
No Private Mortgage Insurance (PMI)
Unlike conventional loans, jumbo loans typically don’t require PMI.
Luxury Home Financing
Perfect for high-value primary residences, vacation homes, or investment properties.
Who is Eligible for a Jumbo Loan?
✔️ Homebuyers purchasing a property above the conforming loan limit ($766,550 in most areas, higher in high-cost regions).
✔️ Borrowers with a strong credit score (typically 700+).
✔️ Individuals with a low debt-to-income ratio (DTI) of 43% or lower.
✔️ Buyers with sufficient assets and financial reserves to cover mortgage payments.
How a Jumbo Loan Works
1️⃣ Check Loan Limits – Determine if the property exceeds conforming loan limits.
2️⃣ Get Pre-Approved – Verify your eligibility and secure financing.
3️⃣ Find Your Home – Choose a high-value home that fits your needs.
4️⃣ Loan Processing & Underwriting – The lender reviews income, credit, and assets.
5️⃣ Close on Your Dream Home – Move into your new luxury property!
Jumbo Loan vs. Conventional LoanCode
| Feature | Jumbo Loan | Conventional Loan |
|---|---|---|
| Loan Limit | Starts $806,500 (varies by area) | Up to $766,550 (varies by area) |
| Down Payment | Typically 10%-20%+ | As low as 3%-20% |
| Credit Score Requirement | 700+ | 620+ |
| PMI Required? | No | Yes, if <20% down |
| DTI Ratio | 43% or lower | Up to 50% |
| Best For | Luxury homes, high-cost areas | Standard home purchases |
See Our Reviews
💬 Real Stories. Real Results.
See how our clients are experiencing success through our expert funnel designs.
Contact UsUpgrade Your Home – Get Started Today!
A Jumbo Loan allows you to purchase a luxury home with flexible financing. Our team is ready to help you secure the best rates and terms!
COMPANY
NMLS: 1281448 | COMPANY NMLS: 1728740
CUSTOMER CARE
LEGAL
© Copyright 2025. Jason Sharon, Broker/Owner of Home Loans Inc. All Rights Reserved.