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Buy
Apply Now
Ready to start your home buying journey? Apply now and get pre-approved for your mortgage.
Purchase Rates
Know the rates, know your options. Start building your homeownership plan today.
Monthly Mortgage Calculator
Get a clear picture of your monthly mortgage payment using your rate, credit score, and down payment information.
Affordability Calculator
Not sure what fits your budget? This calculator factors in your income, debts, and down payment to help you find the right price range.
Refinance
Apply Now
Ready to lower your rate or tap into your equity? Apply now and start your refinance journey with confidence.
Refinance Rates
Rates can change fast. See today’s options and discover potential savings on your mortgage.
Refinance Mortgage Calculator
Wondering how refinancing will affect your monthly payments? See how much you can save.
Cash-Out Refinance Calculator
See how much equity you can tap into. Estimate your new mortgage payment and compare loan options.
Rates
Resources
Calculators
Free, interactive mortgage calculators that can help you along the journey toward your home ownership goals.
Blog
Learn more. Stress less. Our blog breaks down what you need to know to buy, refinance, or plan ahead.
FAQs
Check out our FAQs to learn more about Total Mortgage, mortgage lending, home refinancing, and more.
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Navigate all our loan product options and find the perfect loan for you.
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About
Jumbo loan
Jumbo loans are designed for borrowers financing higher-priced homes that exceed conventional loan limits set by Fannie Mae and Freddie Mac. They offer flexible options and competitive rates for qualified borrowers looking to move up or invest in luxury properties.
Frequently asked questions
Everything you need to know about Jumbo loan
What loan amounts qualify as "jumbo"?
Any loan that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac is considered a jumbo loan. These limits vary by county and are higher in expensive housing markets.
What's required to qualify for a jumbo loan?
Jumbo loans typically require higher credit scores (usually 680+), a larger down payment (often 10-20% or more), lower debt-to-income ratios, and substantial cash reserves to cover several months of payments.
Are jumbo loan rates higher than conforming loans?
Historically yes, though in recent years, competitive rates have made jumbo loans more attractive. Your specific rate depends on your credit, equity, and overall financial profile.
Can I put less than 20% down on a jumbo loan?
Some lenders offer jumbo loans with as little as 10% down, though lower down payments often result in higher interest rates or additional requirements like larger cash reserves.
Do jumbo loans require mortgage insurance?
Not typically. Since jumbo borrowers are generally strong financially, PMI is usually not required - however, the lender may charge a slightly higher rate instead.