Understanding Jumbo Financing
Jumbo loans are designed for qualified homebuyers purchasing or refinancing higher-priced homes that require financing above the loan limits set for many conventional mortgage programs.
Higher Loan Amounts
For homes that require financing above the loan limits set for many conventional mortgage programs.
Purchase or Refinance
Available for both home purchase and refinance transactions.
Flexible Loan Structures
Depending on the program, fixed-rate and adjustable-rate options may be available.
Property Flexibility
Jumbo financing may be available for primary residences, second homes, and investment properties, depending on the program.
Jumbo Loan Options
Jumbo Purchase Loan
Designed for qualified borrowers purchasing a home that requires financing above the loan limits set for many conventional mortgage programs.
Jumbo Rate-and-Term Refinance
May help homeowners adjust their mortgage rate, loan term, or both.
Jumbo Cash-Out Refinance
Allows eligible homeowners to access available home equity while refinancing their existing mortgage.
Fixed-Rate and Adjustable-Rate Jumbo Loans
Choose from available fixed-rate, adjustable-rate, and other jumbo loan options based on your financial goals and preferences.
Which Jumbo Loan Option is Right for You?
Jumbo Purchase Loan
A jumbo purchase loan is designed for homebuyers buying a home that requires financing above the loan limits set for many conventional mortgage programs. This option can help qualified buyers secure financing for higher-priced properties while choosing from available loan structures and terms.
Jumbo Rate-and-Term Refinance
Homeowners may use a jumbo rate-and-term refinance to adjust their interest rate, loan term, or mortgage structure. This option can help borrowers align their financing with changing goals or market conditions.
Jumbo Cash-Out Refinance
A jumbo cash-out refinance allows eligible homeowners to refinance their existing mortgage and access available home equity. Funds may be used for a variety of purposes depending on the borrower's goals.
Fixed-Rate and Adjustable-Rate Jumbo Loans
Fixed, Adjustable Rate Mortgage (ARM), Interest-only, and more.
Not Sure Which Option Fits Your Goals?
A loan officer can help you compare jumbo loan options and determine which may be the best fit for your home financing needs.
What It Takes to Qualify
The Breakdown
10–20%
Down Payment
700+
Credit Score
~43%
Debt-to-Income
Reserves
Required
Verified
Income + Assets
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Frequently Asked Questions
What is a jumbo loan?
A jumbo loan is a mortgage designed for home purchases or refinances that require financing above the loan limits set for many conventional mortgage programs.
When would I need a jumbo loan?
You may need a jumbo loan if the amount you need to borrow for a home purchase or refinance exceeds the loan limits available through many conventional mortgage programs.
Can I refinance with a jumbo loan?
Yes. Eligible borrowers may use jumbo loan programs to refinance an existing mortgage.
Are fixed-rate and adjustable-rate jumbo loans available?
Depending on the program, both fixed-rate and adjustable-rate jumbo loan options may be available.
What factors are considered for jumbo loan eligibility?
Lenders may review factors such as credit history, income, assets, property information, and overall financial profile.
Can I use a jumbo loan for a second home or investment property?
Property eligibility varies by program. A loan officer can help determine which options may be available based on your goals.
By refinancing the existing loan, the total finance charges may be higher over the life of the loan.