Skip to content

Jumbo Home Loans

Jumbo home financing allows buyers to buy homes outside of the standard conventional loan limits with similar mortgage options.


What is a Jumbo Loan?

Jumbo loans provide an opportunity for buyers to finance luxury homes or properties in hot real estate markets. A jumbo loan is a type of mortgage that exceeds limits set by the Federal Housing Finance Agency (FHFA). You can look up current limits on the FHFA’s website. Loan limits vary by county and state, and can change annually, so it’s important to understand the limits for your area.

A big house

Jumbo Loans Qualifications and Down Payments

If you’re interested in buying a higher priced home, a jumbo loan could be your next step towards home ownership. Many borrowers use jumbo loans when they are searching for homes that are priced higher than the loan limits published by the Federal Housing Finance Agency (FHFA).


Requirements to Qualify

Qualifying for a jumbo loan is a similar process to conventional home loans.


Loan Limits

Depending on your county, loan limits may be different on your jumbo mortgage.

How Do Jumbo Loans Work?

Jumbo loans are a great option if you want to buy a home with a purchase price over the FHA’s loan limits in the property’s area. Jumbo loans are often called non-conforming loans since they don’t conform to the limits set by the FHFA. Since these are non-conforming, jumbo loans can’t be purchased by Fannie Mae or Freddie Mac (the government-sponsored enterprises that buy mortgages from lenders) which frees up capital to allow mortgage lenders to lend to consumers.


How to Qualify for a Jumbo Loan

Jumbo loans require the lender to take on greater risk because of the amount of capital involved, as well as the more limited market potential of buyers. As such, many lenders have stricter qualifications. Some of the most common qualification requirements for jumbo loans include higher down payment amounts, a higher credit score, and a stronger debt-to-income ratio than other types of loans. You’ll also need to provide more documentation if you are self-employed or have varying sources of income. Additionally, your lender will want to look at how much cash you have on hand to ensure you have an available reserve of mortgage payments available.

A kitchen

Down Payments for Jumbo Loans

Jumbo loans typically require a larger down payment than other types of mortgages since the loan amount is higher. However, we offer a variety of jumbo loan programs that offer lower down payment amounts depending on your qualifying circumstances. We work with a large number of jumbo investors, so it’s a great idea to reach out to one of our loan officers if you want to learn more details about the required down payment.

Apply for a Jumbo Home Loan

Our team of home financing experts can walk you through the process and help you find the right loan for your situation. You can also get started on your loan process today.

Johnny Kellogg image

Johnny Kellogg

Loan OfficerNMLS#: 1667177
Licensed to originate:
I am authorized to do business in the state of Colorado.