Above the conforming limit, the rules are the lender’s. Choose carefully.
A jumbo loan is simply one larger than the conforming limit that Fannie Mae and Freddie Mac will buy. Because it can’t be sold to the agencies, each lender sets its own guidelines, and they differ more than people expect.
- Need a loan above the conforming limit ($832,750 baseline for 2026 in most counties confirm)
- Have strong credit and documented reserves
- Are buying a higher-priced primary, second, or investment home
- Want to compare jumbo against a conforming first plus a second lien
Who it may fit
Buyers and owners of higher-priced property whose loan amount exceeds the conforming limit, including much of the Fort Lauderdale waterfront and new-construction market. Jumbo is available for primary homes, second homes, and investment property, with stricter terms as occupancy moves away from primary.
Strong, well-documented borrowers fit best: credit in the 700s, two years of stable income, and liquid reserves after closing.
How it works
Full documentation is standard: two years of returns, all pages of asset statements, and often a closer look at large deposits and business income. Debt-to-income limits are typically tighter (43% is common), and reserves of 6 to 12 months of payments are usual, more for second homes, rentals, or very large loans. Some lenders require two appraisals above certain amounts.
Rates can be close to, and at times below, conforming rates for the strongest borrowers; for others the spread widens. Because guidelines are lender-specific, the fit between your profile and a particular investor’s rules drives both approval and price. Jared’s available jumbo investors and their guidelines to be confirmed.
What it may help solve
- Financing a home priced well above the conforming limit with a single loan
- Keeping a large down payment liquid when a lender offers 10% down with strong credit
- Interest-only or adjustable-rate structures for borrowers who want lower early payments and understand the risk
- Alternative: a conforming first mortgage at the limit plus a second lien (“piggyback”) can sometimes beat a jumbo rate; worth pricing both
Tradeoffs and eligibility
- Higher credit, reserve, and documentation standards; small issues that pass conforming underwriting may not pass jumbo
- Condo and property-type restrictions vary by investor
- Self-employed borrowers with complex returns should plan extra time; some jumbo investors are more conservative on business income
- If full documentation doesn’t show your income, Non-QM jumbo options exist at higher cost
What you may need
- Photo ID
- Two years of W-2s and 30 days of pay stubs
- Two years of personal and business tax returns if self-employed, with year-to-date P&L
- Two to three months of statements for all accounts used for down payment and reserves
- Documentation of any large deposits
- Retirement and investment statements counted toward reserves
- Lease agreements and mortgage statements for other properties owned
- Insurance quotes early: wind and flood premiums affect debt ratios on coastal property
Common questions
Where does jumbo start?
Is a jumbo rate always higher?
How much do I need down?
Can I get a jumbo loan on a condo?
Related options
Tell Jared the price range and how you’re paid.
He’ll outline which jumbo structures are realistic and whether a conforming-plus-second alternative is worth pricing.
- No credit pull, no obligation
- Not an application; no guarantee of approval or terms
- Rather talk? Call or text 954-649-0020
Bigger loan, bigger spread between lenders.
Jared can tell you which guidelines your profile fits before you fall for a house.