Loan program

Jumbo loan

Financing for loan amounts above the standard conforming limit for your county.

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See illustrative rates

A row of modern brick and timber townhouses along a quiet tree-lined sidewalk on an overcast morning, small front gardens.

Typical terms

Usually 15 or 30 years, fixed or adjustable. Documentation and cash reserve requirements are often stricter than for smaller loans.

Example minimum down payment

20% of the purchase price in this example.

Who it is for

Buyers of higher-priced homes whose loan amount is above the conforming limit where they are buying.

Pros

Lets you finance a higher-priced home with one loan. Fixed and adjustable terms are generally available.

Considerations

Larger down payments, cash reserves and fuller documentation are often expected. Rates and requirements differ from smaller loans.

About this program

A jumbo loan is a mortgage above the conforming loan limit set for your county each year. Because it sits above that limit, lenders usually look more closely at income, assets and credit history.

Expect a larger down payment than on smaller loans, and expect to show cash reserves after closing. Your loan officer will tell you which documents are needed once we know the price and the property type.

The planner pre-sets a 20% down payment for this program. All figures are illustrative only.

Try it with this program

Home price

Down payment

$90,000 down

Term

Illustrative interest rate

For a $360,000 loan, about $2,275 a month in principal and interest.

Principal and interest: $2,275
Estimated taxes and insurance: $500
Total estimated monthly payment: $2,775
Loan amount: $360,000

Estimates only. Rates and figures are illustrative, not a rate quote, loan offer or commitment to lend.

Start pre-approval

Carries your price, down payment and term into the application.

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