What Is a Jumbo Loan?

A jumbo loan is a mortgage used to finance homes that exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). These non-conforming loans are designed for buyers seeking financing for luxury homes, primary residences, vacation properties, or high-value real estate that go beyond traditional loan caps.

Because jumbo loans are not backed by Fannie Mae or Freddie Mac, they often require strong credit, asset verification, and a thorough underwriting review — but they also provide unmatched flexibility for qualifying borrowers.

Key Benefits of Jumbo Loans

• Designed for properties that exceed conforming loan limits

• Available for primary residences, second homes, and some investment properties

• Custom loan terms available, including fixed and adjustable options

• May allow for financing of larger loan amounts under a single mortgage

• Programs available with no prepayment penalties

Borrower requirements, LTV limits, and property types vary by lender. Full documentation and credit review required.

Jumbo Loan LTV Guidelines

• Up to 89.99% LTV on primary residences (varies by borrower profile and loan amount)

• Lower LTV limits may apply to second homes or investment properties

• Strong credit, income documentation, and reserves are typically required

Loan-to-value ratios vary based on credit score, property type, occupancy, and total loan size. All loans subject to underwriting review.

Who Uses Jumbo Loans?

• Buyers purchasing luxury homes or properties in high-cost markets

• Homeowners financing above FHFA conforming limits

• Professionals, executives, or investors with substantial income or assets

• Individuals consolidating home financing into one loan instead of splitting across multiple mortgages

Why Lendmire

Lendmire understands the complexities of high-value financing. Our mortgage experts help structure jumbo loans to match your long-term financial goals while simplifying the process from approval to closing. We work with top wholesale lenders offering a wide range of jumbo options tailored to your needs.

Compliance Notice

Lendmire complies with all federal and state mortgage regulations. Jumbo loan terms, approval, and availability are based on credit, income, property type, and underwriting guidelines. A Loan Estimate (LE) will be provided upon receipt of a completed application and required documentation.