Today's Jumbo Loans Rates
Jumbo loans are designed for properties that exceed conforming loan limits set by the Federal Housing Finance Agency. If you're purchasing a luxury home or a property in a high-cost real estate market, a jumbo loan provides the financing you need with competitive rates for well-qualified borrowers.
* Estimated monthly payment based on a $400,000 loan amount. Assumes Rates assume 780+ credit, 75% LTV, primary residence, single-family home.. Your actual rate and payment may differ. Subject to credit approval.
What Is a Jumbo Loan?
A jumbo loan (also called a non-conforming loan) is a mortgage that exceeds the conforming loan limits established by the Federal Housing Finance Agency (FHFA). In 2026, the conforming limit is $806,500 for most of the U.S. and up to $1,209,750 in designated high-cost areas. Any loan amount above these thresholds requires jumbo financing. Because jumbo loans can't be purchased by Fannie Mae or Freddie Mac, lenders assume more risk — which historically meant higher rates, though today's jumbo rates are often competitive with conforming loans for strong borrowers.
Who Qualifies?
Jumbo loan requirements are more stringent than conforming loans. Most lenders require a minimum credit score of 700 (720+ for the best rates), a debt-to-income ratio under 43%, and a down payment of 10–20%. You'll also need significant cash reserves — typically 6 to 12 months of mortgage payments in liquid assets. Income documentation must be thorough, especially for self-employed borrowers. CMS Mortgage works with multiple jumbo lenders to find the best fit for your financial profile.
Pros and Cons
Advantages
- ✓Finance luxury properties and homes in high-cost markets
- ✓Competitive rates for well-qualified borrowers — often comparable to conforming
- ✓Available in fixed-rate and adjustable-rate options
- ✓No loan amount ceiling for most jumbo programs
- ✓Can be used for primary residences, second homes, and investment properties
Considerations
- ✗Higher credit score requirements (typically 700+)
- ✗Larger down payment required (10–20% in most cases)
- ✗More extensive documentation and underwriting
- ✗Significant cash reserves required (6–12 months)
- ✗Fewer lender options compared to conforming loans
How to Apply
Jumbo loan applications require thorough financial documentation. Be prepared with at least two years of tax returns, all pages of recent bank and investment account statements, proof of reserves, and verification of any additional income sources. CMS Mortgage works with a network of jumbo lenders, allowing us to shop for the most competitive rate and terms for your situation. Our experienced loan officers specialize in high-value transactions and guide you through the enhanced underwriting process.
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