Conventional Loans
The most common financing for buyers with established credit.
- Fixed and adjustable options
- Purchase and refinance
Jumbo loans
Financing above conforming loan limits
When the loan amount exceeds the limit set for the county, it becomes a jumbo loan. Different rules, more detailed review, and not necessarily a higher rate.
Often considered by
- Buyers in higher-priced markets
- Higher loan amounts
Worth weighing
- Reserve requirements are typically higher
- Credit and documentation review is more detailed
- Angel Hernandez, NMLS #1099542
- Licensed in: CA
- Equal Housing Opportunity
- (619) 567-1553
- Conventional Loans
- FHA Loans
- VA Loans
- Jumbo Loans
- Self-employed friendly
- First-time buyers
- Refinance and cash-out
- Free payment calculator
- Adjustable-Rate Mortgages
- 30-Year Fixed
- 15-Year Fixed
What makes a loan jumbo
Each year the Federal Housing Finance Agency sets a conforming loan limit, and it varies by county, higher-cost areas get higher limits. A loan above the limit for your county is a jumbo loan.
We do not publish the figure here on purpose. It changes annually and differs by county, so a number printed on a web page is a reliable way to be wrong. We check the current limit for the specific county you are buying in.
Look up current conforming loan limits (FHFA)What jumbo underwriting looks at more closely
Jumbo loans are not backed by an agency, so the lender carries more risk and looks harder at the same things a conventional loan considers.
Reserves
Liquid funds remaining after closing, usually measured in months of housing payments. Expectations are generally higher here.
Credit
A stronger profile is typically expected, and it affects pricing more noticeably than on conforming loans.
Down payment or equity
More is usually required, though the days of a flat 20% minimum on every jumbo are long gone.
Documentation
Reviewed in more depth. Bank statement and asset-based approaches exist for self-employed borrowers.
Fixed or adjustable, and which properties
Jumbo loans are available in both fixed and adjustable structures. Adjustable jumbo products are relatively common, because borrowers at these loan sizes more often have a defined time horizon.
Availability for second homes and investment properties varies by programme and is not universal. We confirm what is actually available for your situation rather than listing everything the market has ever offered.
Step 1 of 4
Explore jumbo financing
Rates depend on more than the market. A few details let us quote your actual scenario.
Common questions
Worth comparing
VA Loans
For eligible veterans, service members and surviving spouses.
- No monthly mortgage insurance where applicable
- Purchase and refinance options
Adjustable-Rate Mortgages
A fixed rate for an initial period, then periodic adjustment.
- Initial fixed period
- Rate caps limit how much it can move
Official resources: fhfa.gov
Not sure this is the right fit?
Program availability and qualification depend on your details and the property. The fastest way to find out is to ask.