Jumbo Loans
A jumbo loan is a mortgage with a loan amount that exceeds the conforming loan limit set each year by the FHFA, which is higher in high-cost counties. Jumbo mortgages typically have stricter credit, reserve and down payment requirements.
- Above the conforming loan limit
- Fixed or adjustable rates
- Purchase or refinance
The basics
What Is a Jumbo Loan?
A jumbo loan is a mortgage with a loan amount above the conforming loan limit set by the Federal Housing Finance Agency (FHFA). If you are buying a high-value or luxury home and need to borrow more than conforming limits allow, a jumbo mortgage, available with fixed or adjustable rates, can help you finance the purchase.
- Loan amount
- Above the conforming limit
- Limit set by
- FHFA, each year
- Rate types
- Fixed or adjustable
How it works
Your jumbo loan in four steps
From pre-approval to closing, you work with one licensed loan officer who keeps things moving.
- 01
Get pre-approved
Share your income, assets, reserves and credit. Your loan officer compares jumbo programs and gives you a pre-approval letter.
- 02
Find your home
Shop with your pre-approval. After your offer is accepted, an appraisal confirms the home's value. Some jumbo loans may require a second appraisal.
- 03
Underwriting
Jumbo files get a closer look at income, assets and reserves. We keep you updated and help you clear any conditions.
- 04
Close and get your keys
Review your Closing Disclosure, sign at the title company and move in.
Loan programs
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Find the right home loan program for your unique financial situation. As your mortgage broker, we keep the process transparent and efficient.
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Find the right home purchase loan for your new home.
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Explore refinance options that may lower your rate or payment.
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VA home loan benefits for eligible veterans and service members.
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Renovation loans to buy or improve a fixer-upper.
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Buy Big
Jumbo loans for homes above conforming loan limits.
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USDA loans with no down payment in eligible areas.
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Is a jumbo loan right for you?
Who Should Apply?
Jumbo loan programs are designed for buyers of high-value and luxury homes who show strong financial health. Jumbo lenders typically look for solid cash reserves and borrowers who have:
Get a QuoteA lower debt-to-income ratio
A higher credit score
A larger down payment
Jumbo options
HomyLoan Jumbo Loan Solutions
As a mortgage broker, HomyLoan can help you compare a range of jumbo mortgage products for high-value and luxury homes that exceed the conforming loan limit. Jumbo loan solutions may include:
Loan amounts above the conforming loan limit for high-value properties
Fixed and adjustable rate options, including 30-year fixed terms
Jumbo cash-out refinance options to access your home equity
Financing that may be available for non-warrantable condominiums
Guidance from experienced loan officers through every step of qualifying
VA jumbo options that may let eligible veterans buy higher-value homes, in some cases with no down payment
Programs and terms vary by lender and are subject to credit approval and property eligibility.
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Ask Homy anything about home loans
Hi, it's Homy! I can explain loan programs, down payments and the steps to buy or refinance in Texas. For advice on your situation, a licensed loan officer is one tap away.
Homy gives general information, not a loan offer or approval. HomyLoan, LLC is a licensed mortgage broker, NMLS 2783307.
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Jumbo loan FAQs
A jumbo loan is a mortgage above the conforming loan limit set each year by FHFA. Because it is too large for Fannie Mae or Freddie Mac to buy, the lender sets its own guidelines.
Jumbo down payments are often larger than for conforming loans. Requirements vary by lender and loan size, and some programs may allow less than 20% down for strong borrowers.
Lenders typically look for strong credit, a lower debt-to-income ratio and more cash reserves after closing. Expect a closer review of income and assets.
Not always. Jumbo rates can be higher or lower than conforming rates depending on the lender, your profile and the market.
Possibly. Some lenders require a second appraisal on larger loan amounts to confirm the home's value.
Yes, both. Jumbo loans are offered with fixed rates and adjustable rates, and your loan officer can compare the two for your plans.