How this option works
A jumbo mortgage is generally a loan amount above the conforming loan limits set for the property’s location and type. Requirements and pricing vary by lender, borrower profile, and property.
Who may want to explore it?
Borrowers financing a higher-priced property may want to compare jumbo financing with other available structures.
Important details to consider
- Down-payment, credit, reserve, and income documentation requirements can differ by lender.
- Loan limits are set by location and can change; the applicable limit should be confirmed for the property.
- Compare the full costs and terms, not only the advertised interest rate.