What Is Jumbo Loan?
Jumbo Loan: A mortgage larger than the conforming loan limit, with stricter credit, down payment and reserve rules.
A jumbo loan is a mortgage above the conforming loan limit ($832,750 for one unit in most counties in 2026). Because Fannie Mae and Freddie Mac can't buy them, lenders set their own guidelines.
Typical requirements
- Down payment: often 10% to 20%, sometimes more for larger loans
- Credit: usually 680 to 700 minimum, with the best pricing at 740+
- DTI: commonly 43% or less
- Reserves: often 6 to 12 months of payments
- Appraisal: some loans need two appraisals
- Documentation: full tax returns and asset statements
Rates
Jumbo rates can be close to, or even below, conforming rates for strong borrowers, but they vary more between lenders. Compare locked offers.
Good to know
If you're just over the limit, putting more down to stay conforming can be cheaper. Unbeatable shows both on the same home.