Jumbo Loan Programs
Financing for High-Value Homes That Go Beyond Conventional Limits
Looking to purchase or refinance a luxury property or a home in a high-cost market? If the loan amount you need exceeds the standard conforming loan limit, a jumbo loan may be the right solution.
What Is a Jumbo Loan?
A jumbo loan is a type of mortgage designed for loan amounts that exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In most U.S. counties, the current conforming limit is $806,500 and High-Cost area up to $1,209,750 (as of 2025). If you're financing a home above this threshold, a jumbo loan is required.
Because jumbo loans exceed the limits backed by Fannie Mae and Freddie Mac, they are considered non-conforming conventional loans and come with unique qualification requirements.
When Do You Need a Jumbo Loan?
You may need a jumbo loan if you're:
· Buying a high-value primary residence
· Purchasing a second home or vacation property
· Investing in luxury real estate
· Refinancing an existing large loan that exceeds conforming limits
Jumbo loans are commonly used in high-cost housing markets like California, New York, Florida, and other metropolitan areas.
Key Features of Jumbo Loans
· Loan amounts above $806,500 (or higher in certain high-cost areas)
· Available in both fixed-rate and adjustable-rate options
· Flexible loan terms to suit your financial goals
· Options for primary residences, second homes, and investment properties
· May require larger down payments and stronger credit profiles
· Typically, no private mortgage insurance (PMI) required for high-credit borrowers
Jumbo Loan Requirements
Since jumbo loans are not government-backed, lenders often require:
· Higher credit scores
· Lower debt-to-income (DTI) ratios
· Larger cash reserves
· A strong and stable income history
· A larger down payment, often 10–20%
At Saxton Mortgage, we work closely with jumbo loan investors to offer competitive rates and custom options tailored to your financial profile.
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