Jumbo Loans

A jumbo loan is a type of financing that exceeds the limits set by the Federal Housing Finance Agency (FHFA). Unlike conventional mortgages, a jumbo loan is not eligible to be purchased, guaranteed, or securitized by Fannie Mae or Freddie Mac. Designed to finance luxury properties and homes in highly competitive local real estate markets, jumbo mortgages come with unique underwriting requirements and tax implications.

• You’ll need a stellar credit score—700 or above

• Very low debt-to-income (DTI) ratio. (Should be under 43% and closer to 36%