Jumbo Loans
Financing for luxury homes and properties in high-cost areas
About This Program
Jumbo loans are mortgage loans that exceed the limits set by government-sponsored entities such as Fannie Mae and Freddie Mac. The 2023 limit for conventional conforming loans is $806,500 in most areas, but jumbo loans start at $806,501 and can range up to several million dollars, depending on the area's housing market. Jumbo loans are often used to finance luxury homes or properties in high-cost areas where home prices exceed the conforming loan limits.
Because of their size, jumbo loans often require a higher down payment and stricter credit and income requirements than conventional loans. These loans are originated by private lenders, such as banks and mortgage companies, and may be fixed-rate or adjustable-rate loans.
Key Highlights
Loan amounts exceeding $806,500
Finance luxury and high-value properties
Available in fixed-rate or adjustable-rate options
Higher down payment requirements
Stricter credit and income qualifications
Ready to Get Started?
Let's discuss your unique situation and see if this program is right for you