Loan program
Jumbo Loans
Need a bigger home loan? Jumbo financing covers homes priced above the conforming loan limit.
- Above conforming loan limits
- Credit score as low as 660
- Fixed or adjustable rates
A jumbo loan is a mortgage for a home that costs more than the conforming loan limit set each year by the Federal Housing Finance Agency. Because these loans can't be sold to Fannie Mae or Freddie Mac, they're also called non-conforming loans, and lenders hold a little more risk on them.
That means jumbo underwriting looks harder at credit, income, and reserves, but for well-qualified buyers the rates are often very close to conventional pricing. Jumbo loans come in fixed and adjustable-rate versions with a range of terms.
What to know about jumbo loans
Larger loan amounts
Finance a higher-priced home in a single loan instead of piecing together a first and second mortgage.
Competitive pricing for strong borrowers
Good credit, documented income, and cash reserves are rewarded with rates that rival conforming loans.
Fixed or adjustable
Choose the rate structure that fits how long you plan to stay in the home.
Flexible property types
Primary residences, second homes, and many investment properties can qualify.
Who it’s a good fit for
- Buyers purchasing homes above the current conforming loan limit
- Borrowers with credit scores of 660 or higher and documented income
- Anyone who'd rather have one loan than a first mortgage plus a piggyback second
Plan for a larger down payment and reserves
Jumbo lenders often ask for 10% to 20% down and several months of mortgage payments in reserve. We'll tell you exactly what each lender in our network requires so there are no surprises.
Common questions
What is the conforming loan limit?
The FHFA sets the limit annually. It changes each year and is higher in some high-cost areas, though Arkansas counties use the baseline limit. We'll tell you the current figure when you reach out.
Are jumbo rates higher?
Not always. Depending on the market and your credit profile, jumbo rates can be at, above, or even slightly below conventional rates. Shopping lenders matters more here than almost anywhere else.
Ready to explore a jumbo loan?
Tell us a little about your plans and a local loan originator will compare your options across our lender network. It's free, and there's never any pressure.