Jumbo loans are for borrowers purchasing or refinancing a residential property with a loan amount that exceeds $453,100. Qualification requirements for income, credit history, and assets may be higher than traditional conventional loans.

Subject to credit approval.

Features

What You Need to Know

A jumbo loan allows borrowers purchasing higher priced homes to not drain their savings by allowing loan amounts in excess of $453,100.

Jumbo loans may require a 20% down payment and good or excellent credit history.

There are several factors that affect whether you might require a jumbo loan:

  • The value and location of your home
  • The amount of your down payment
  • The possibility of obtaining two mortgages