Jumbo Loan

A jumbo loan is a type of mortgage for high-value properties, exceeding conforming loan limits, requiring stricter credit and down payments.

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What Is a Jumbo Loan?

A jumbo loan is a type of mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). These limits vary by location but are generally higher in areas with expensive real estate markets. With a choice between fixed or adjustable rates, a jumbo loan offers maximum flexibility for home financing for larger loans.

Low down
payment
options

Gift
funds
allowed

Interest
only
loans

40-year
loan
term

Non-Occupant
Co-Borrowers Allowed

What Is the Jumbo Loan Limit?

How much is a jumbo loan? It depends on the jumbo loan limit, which refers to the maximum loan amount that qualifies as a conforming loan under guidelines set by the Federal Housing Finance Agency (FHFA). Loans that exceed this limit are classified as jumbo loans.

$
2025 Conforming Loan Limit
View Loan Limits in Your County

Jumbo Loan
Requirements

Qualifying for a jumbo loan is determined by different factors compared to a traditional mortgage. While requirements may vary among lenders, here are some common criteria.

Jumbo Loan Options

Most banks will have jumbo loan options while some mortgage brokers and bankers can access jumbo loan options that are outside of the box when compared to their big bank counterparts. What jumbo loan options do you have?

| COMMON JUMBO OPTIONS

Purchases & Refinances: Your jumbo loan can be used for purchasing, refinancing, or a cash-out refinance. Your lender will be able to share what the requirements look like for you.
Big Bank Jumbo Loan:  Usually the most challenging to obtain, big bank jumbo loans max out at a 43% debt to income ratio.
Non-QM Jumbo Loan: For clients that are self-employed or plan to buy their next home as an investment.
Low Down Payment Jumbo Loan: For clients that allow you to put as little as 5% down.

| IN-HOUSE JUMBO 17-DAY CLOSE

Rapid turn times
Favorable offer to sellers
Upfront underwriters’ review
Competitive rates

| 1ST & 2ND COMBINATION

Combine 1st & HELOC or Fixed Rate 2nd
Interest Only Payments on HELOC
No Mortgage Insurance
Primary Residences & Second Homes

Need an alternative ? Consider our other options!

No tax returns
required

Bank deposits as income

Credit events accepted

Investor cash flow loans

Loans based on assets

More About Expanded Loan Solutions

Jumbo Loans FAQ

Can all lenders do jumbo loans?

No, not all lenders offer jumbo loans due to specialized underwriting and higher reserve requirements. Fortunately, RWM Home Loans offers jumbo loans! We have the expertise and resources to ensure your financial goals are met.

Do jumbo loans have higher interest rates?

Traditionally, jumbo loans had higher interest rates than conforming loans due to the increased risk. However, in recent years, competitive markets have often resulted in rates similar to or slightly above conforming loan rates, depending on the lender and borrower’s profile.

Do jumbo loans have higher interest rates?

Traditionally, jumbo loans had higher interest rates than conforming loans due to the increased risk. However, in recent years, competitive markets have often resulted in rates similar to or slightly above conforming loan rates, depending on the lender and borrower’s profile.

Is private mortgage insurance (PMI) required for jumbo loans?

PMI is generally not required for jumbo loans, but this can depend on the lender and down payment size. Many lenders require a higher down payment to offset the lack of PMI.

Can I use a jumbo loan for an investment property?

Yes, many lenders offer jumbo loans for investment properties or second homes, but the qualification requirements may be stricter compared to primary residences.

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