What is a jumbo loan?

A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $548,250 in most counties, as determined by the Federal Housing Finance Agency (FHFA). Homes that exceed the local conforming loan limit require a jumbo loan.

Also called non-conforming conventional mortgages, jumbo loans are considered riskier for lenders because these loans can’t be guaranteed by Fannie and Freddie, meaning the lender is not protected from losses if a borrower defaults. Jumbo loans are typically available with either a fixed interest rate or an adjustable rate, and they come with a variety of terms.

Get matched with jumbo loan lender

If you’re thinking of using a jumbo loan to buy a home, we can help by asking just a few questions. Let’s see what lender you get matched with.

I’m interested in a lender who has…

An online application

Low down payment

Fast close time

High loan amount

Low rates