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What is a jumbo loan?

Quick answer

A jumbo loan is a mortgage larger than the conforming loan limit — $832,750 for a one-unit home in most U.S. counties in 2026, and higher in high-cost areas. Because Fannie Mae and Freddie Mac can't buy them, lenders set their own rules: typically 10–20% down, credit scores of 700+, low debt ratios and several months of cash reserves.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated
Min. down: 10%–20%Min. credit: 700+

Jumbo loan requirements

  • Credit: 700–720 minimum at many lenders.
  • DTI: often 43% or lower.
  • Reserves: 6–12+ months of principal, interest, taxes and insurance.
  • Full documentation; sometimes two appraisals for very large loans.

Alternatives to a jumbo loan

Some buyers use a 'piggyback' structure — a conforming first mortgage plus a second loan — to avoid jumbo requirements. A larger down payment that brings the loan under the conforming limit is another option.

Jumbo loans by state

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Frequently asked questions

Not always. Jumbo rates depend on the lender and your profile; strong borrowers often see rates close to or below conforming rates.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.