Jumbo Loans

A Jumbo loan is a mortgage used to finance properties that exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In most areas, any loan amount higher than standard limits is considered a Jumbo loan.

Because these loans cannot be purchased by Fannie Mae or Freddie Mac, they carry more risk for the lender. As a result, Jumbo loans typically require stricter credit guidelines, larger down payments, and more substantial cash reserves compared to conforming loans.

Best For Which Buyers?

• Luxury Homebuyers: Buyers looking at high-end properties.
• High-Cost Area Residents: Those buying in expensive real estate markets like Miami or the Florida Keys.
• High Earners: Borrowers with strong credit, substantial income, and healthy cash reserves.

Key Benefits

• • Finance luxury properties with a single loan (no need for a second mortgage)
• • Competitive interest rates for highly qualified buyers
• • Flexible term options available (fixed and adjustable rates)
• • Can be used for primary residences, second homes, or investment properties

What credit score is needed for a Jumbo loan?

How much down payment is required?

What are reserve requirements?