Finance your first-class dream home with a jumbo loan.
Buy a home at a higher price point- Get up to $1.5 million in financing
- Make a strong offer in an aggressive market
Why choose AmeriSave for a jumbo loan?
Efficient Application Process
Get approved in minutes with industry-leading technology that analyzes all your financial factors.
Competitive Rates
Secure a competitive rate to maximize your buying power and monthly savings.
Certified Approval Letter
Verify your income and credit before you shop, so sellers know you're serious about buying.
Trusted Expertise
Over 730K clients. 23 years’ experience. One goal: helping you build a brighter future.
Smarter technology. Real numbers.
Get Personalized Loan OptionsSee your best loan options with technology that analyzes your finances in real time.
Flexible Loans And TermsPick the right loan and term that helps you achieve your unique homeownership goals.
Close Your Loan QuicklyGet approved and funded quickly, so you can enjoy your new financial freedom.
Get Personalized Loan Options
See your best loan options with technology that analyzes your finances in real time.
Flexible Loans And Terms
Pick the right loan and term that helps you achieve your unique homeownership goals.
Close Your Loan Quickly
Get approved and funded quickly, so you can enjoy your new financial freedom.
Finance above the conforming loan limit.
Jumbo loans fund larger purchase amounts than the annual conforming limit set by the Federal Housing Finance Agency (FHFA).
Confirm Your Loan Is Jumbo
Loan amounts above your county's conforming limit require jumbo financing. Check the FHFA's annual limits for your area before assuming you'll need a jumbo.
Submit full documentation
Jumbo underwriting is thorough and includes full income, asset, employment, and reserve documentation. Self-employed borrowers face the heaviest paperwork load.
Close On A Measured Timeline
Jumbo loans typically take 45 to 60 days to close due to additional underwriting scrutiny. Some loans require two appraisals on the highest-value properties.
Pay One Large, Predictable Payment
Most jumbo loans have a fixed rate, with the same payment every month (excluding taxes and insurance), even on multi-million-dollar balances.
Higher loan amounts, higher standards.
Most jumbo programs cap at 80% LTV (20% down) for the best pricing, though some allow 90% LTV for the strongest borrowers. Stronger credit, lower DTI, and deep reserves are the standard package.
When A Jumbo Loan Makes Sense
Jumbo loans serve buyers in markets where home prices regularly exceed conforming loan limits.
High-Cost-Of-Living Markets
Coastal cities and major metros often have median home prices well above the conforming limit, making jumbos the default for typical purchases.
Luxury Home Purchases
Premium properties in any market may require a jumbo loan to reach the purchase price.
Second Home In A Premium Market
Vacation properties in high-priced destinations often fall above conforming limits.
Investment Property At Scale
Larger multi-unit or higher-priced investment properties may require jumbo financing.
Jumbo Loan Requirements
Jumbo underwriting is stricter than conforming because the loans aren't backed by Fannie Mae or Freddie Mac.
700+ minimum typical; 740+ for the lowest rates. Multi-million-dollar loans may require even higher scores.
43–45% maximum, with the new payment included.
Typically 10–20%; some programs require 25%+ for very large amounts or investment properties.
6 to 12 months of mortgage payments in liquid assets, verifiable at closing.
Jumbo vs. Conforming Loan
Loans above the conforming loan limit set annually by the FHFA require jumbo financing with stricter requirements but the ability to fund higher-priced homes.
Pros And Cons of A Jumbo Loan
Jumbo loans open access to higher purchase prices, but they require a stronger financial profile than conforming loans.
What Works In Your Favor
Higher Loan Amounts
Borrow well beyond the conforming limit when you need to.
Competitive Rates
Jumbo rates can be similar to or only slightly above conforming rates for the strongest borrowers.
Flexible Loan Structures
15, 20, and 30-year fixed terms are widely available, along with ARMs.
Interest-Only Options
Some jumbo programs allow interest-only payments for a set period.
Customizable For Complex Finances
Jumbo lending often accommodates self-employed borrowers, complex income, or significant assets.
What To Weigh Carefully
Higher Credit Standards
Most jumbo programs require 700+ FICO; the best rates require 740+.
Larger Down Payment
Typically 10–20% minimum; some require more.
Cash Reserve Requirements
Lenders often require 6–12 months of mortgage payments in reserves at closing.
More Documentation
Full income, asset, and tax return verification, including for self-employed and business income.
Stricter DTI limits
Typically capped at 43–45%, leaving less room for other debt.
Frequently Asked Questions
A jumbo loan is a mortgage with a higher loan amount than the Federal Housing Finance Agency's annual limits on conforming loans. Because of this, Fannie Mae and Freddie Mac cannot buy or guarantee it. Continue Reading...
Most jumbo loans require a minimum credit score of 700. Some lenders may approve slightly lower scores from borrowers with other strong factors. A higher score often helps you qualify for better rates and terms.
Jumbo loans often require a down payment of 20%, depending on your loan’s amount and credit profile. Putting down 20% or more may help you avoid paying private mortgage insurance (PMI) and secure a more competitive interest rate.
Jumbo loans can be used for second homes or investment properties, but requirements are often stricter. You may need a higher credit score, larger down payment, and more cash reserves to qualify for this type of purchase.
Jumbo loan rates can be slightly higher than conventional rates because they aren’t backed by government-sponsored entities. However, strong borrowers may still qualify for competitive rates. AmeriSave’s tools can help you determine the rate that fits your situation.