Jumbo Loan

If you are looking at a luxury home or live in an area of the country where the cost of living is high, a jumbo loan may be the answer.

What you need to know about jumbo loans

A jumbo mortgage offers financing for those homes with a price tag that exceeds the conforming loan limits. In 2022, the Federal Housing Finance Agency (FHFA) raised the maximum conforming loan limit for a single-family property to $726,200. Jumbo financing becomes an option if you are over that amount.

How much is a down payment for a jumbo loan?

The down payment required for a jumbo mortgage can vary on many factors. Your Certainty Loan Officer can help you assess your specific situation and goals and help you find the right loan option for you.

Can I qualify for a jumbo mortgage?

Jumbo loans can come with stricter qualifying guidelines when compared to a conventional loan because the homebuyer is taking out more than the typical loan amount. There are several factors that a lender will look at to determine if you qualify, including your credit history, income, and debt-to-income (DTI).

The minimum credit score depends on a variety of factors, so be sure to check with your Loan Officer about your specific situation.

Fixed VS Adjustable-Rate Jumbo Mortgages

Jumbo loans offer options with fixed-rates or adjustable-rate mortgages (ARMs). You may be familiar with the concept of a fixed-rate mortgage, where the interest rate you obtain is constant for the entire period you have your loan. Another option to consider is an adjustable-rate mortgage (ARM), which comes with a variable interest rate. You can read more about ARMs here to weigh the pros and cons.

Jumbo Mortgages for Unique Circumstances

We are proud to offer multiple jumbo financing options that span all kinds of life's realities. From self-employed homebuyers to investors, we have an product for you.

Ready to discover if a jumbo loan is right for you? Find a local loan officer near you.

Finance Your Home with Confidence Guide

Buying your jumbo dream home is possible! And with Certainty by your side, you can navigate the mortgage process with confidence. This guide is to help you navigate your financing journey and help you know what to expect every step of the way.