A jumbo loan is a mortgage that exceeds the maximum loan amount that Fannie Mae and Freddie Mac can purchase or guarantee under the applicable conforming loan limits. Because jumbo loans fall outside those limits, they're considered non-conforming mortgages and can give qualified buyers access to financing for higher-value homes.

Jumbo loans can be useful when the home you want requires more financing than a standard conforming mortgage can provide. Whether you're purchasing a larger family home, a property in a high-cost market, or another higher-value residence, a jumbo mortgage may offer a way to structure the financing around the purchase.

Because these loans involve larger balances, lenders may have additional requirements around credit, income, debt, down payment, and financial reserves. Requirements and pricing can vary considerably between lenders.

We'll help you understand the available options, review the numbers, and determine whether a jumbo loan makes sense for your purchase.