Jumbo Loans

Get the mortgage you need for your dream home

Make your dream luxury home a reality with a jumbo loan

You've got big home dreams, and we've got the financing to help you make it happen. Take the first step. Contact a jumbo mortgage advisor, and begin your journey to living the life you want in the home you want.

Mortgage your way

Take advantage of higher borrowing limits than conventional mortgages.

Purchasing power

Increase loan-to-value ratio by up to 90% with a jumbo loan.

Competitive rates

Compare jumbo mortgage and conventional mortgage rates.

Make your dream home a reality
Jumbo Mortgage Application Requirements

Qualify for a jumbo mortgage loan

Create an account in our online application platform. Here's what you'll need to apply for a jumbo loan.

  • Social Security number
  • Employer contact information
  • Estimated income, assets and liabilities
  • Details on the property you're interested in buying
Jumbo Loan Benefits

Go beyond conforming limits

Borrow more

Exceed the Federal Housing Finance Agency limit for your market and qualify for a jumbo loan of up to $5 million.

Get a good rate

The right jumbo loan for your dream home could end up saving you money on interest.

Structure it your way

Choose from standard fixed-rate or adjustable-rate mortgage options based on your needs.

Get assistance

If you're eligible for down payment assistance, you may be able to make a lower lump-sum payment.

Financing your jumbo loan

Ready to apply for a jumbo loan? Begin your journey here.

Step 1

Assess your jumbo loan readiness

Contact a jumbo loans mortgage advisor to assess your readiness. Discuss terms, pricing, options and payments. We can help you find a mortgage banker.

Step 2

Apply for a jumbo mortgage

Use our online platform to apply for mortgage and submit supporting documentation that will be used to process your jumbo loan application.

Step 3

Await loan approval

Underwriting will process your jumbo loan application and review your documentation. Provide answers to questions and additional documentation as requested.

Step 4

Close on your jumbo mortgage

You'll receive your closing date and meet with your lender and closing attorney to close on your new mortgage.

Homeowners Insurance

Keep your home and your family safe

Get the right homeowners insurance to meet your family's needs.
Auto Insurance

Protect all your vehicles

Find the right combination of coverage for your vehicle and its passengers.
FAQ

People often ask us

A jumbo loan is a type of mortgage in which the loan amount exceeds the limit set by the Federal Housing Finance Agency, or FHFA. It's primarily designed for purchasing luxury homes or homes in highly competitive housing markets.

The major difference between jumbo loans and conventional home loans is their size. Due to their larger size, jumbo loans are ineligible for Fannie Mae or Freddie Mac to purchase or guarantee, making them slightly riskier than conventional mortgages. As a result, eligibility requirements are usually stricter for jumbo loans.

To qualify for a jumbo loan, it helps to have excellent credit with a score above 700, as well as a low debt-to-income ratio, or DTI. Some lenders may ask for documentation showing you have enough cash on hand to cover the first 6 months or 1 year of mortgage payments.

Each year, the Federal Housing Finance Agency, or FHFA, determines the maximum loan limit for conventional mortgages in the US. In certain places, including higher cost-of-living areas, the limit is higher. You can visit Fannie Mae to see this year's loan limits. To purchase a single-family home above the limit in your area, you'll need a jumbo loan.

Higher mortgage limits mean the risk is greater for these types of loans, so you'll need to have a good credit score. The higher your credit score, the greater your chances of being approved for a jumbo mortgage. A better credit rating also means you have a better chance of being approved at a lower interest rate.

Jumbo loans work similar to conventional mortgage loans with a few differences. They can't be guaranteed by Fannie Mae or Freddie Mac because they exceed conforming loan limits. Because jumbo loans allow you to borrow more money to purchase a more expensive home, the requirements and approval process are stricter than the traditional mortgage loan process.

Jumbo loans offer several benefits to homebuyers.

  • Borrow more money: Higher loan limits mean you can borrow more money to purchase a more expensive home:
  • Manage one loan: No more loan juggling. You can purchase your home with one loan instead of piecing together multiple loans from multiple vendors:
  • Lower interest rates (possibly). Depending on factors such as creditworthiness, income, homebuyer program and lender, you may qualify for a lower interest rate.

Yes. You should get a home appraisal any time you're purchasing a new home. This is especially important when applying for mortgage loans to purchase more expensive homes. An appraisal helps you negotiate better prices, ensures a fair and transparent homebuying process by providing a detailed view of the home and structure, and helps you close on your home faster and with fewer issues.

Loans with an origination balance above a specific amount, or conforming loan limit, are qualified as jumbo loans. What qualifies as a jumbo loan varies from state to state. Qualifications can change from year to year. Visit the Federal Housing Finance Agency to see conforming loan limits for your state.

Normal credit approval applies.

Not applicable in all states.

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