Jumbo Loans
Flexible Financing for High-Value Homes
Dreaming bigger than conventional mortgage limits allow? Whether you’re buying a luxury property or refinancing in a high-cost area, a jumbo loan gives you the power to finance homes that exceed standard loan caps.
At Salute Mortgage, we specialize in jumbo mortgages tailored to your financial profile—with competitive rates, flexible terms, and a fast, seamless process.
Get Your QuoteWhat Is a Jumbo Loan?
A jumbo loan is a type of mortgage that exceeds the current conforming loan limits set by the Federal Housing Finance Agency (FHFA). These limits vary by location, but in most U.S. counties, the 2025 conforming loan limit is $766,550 for a single-family home. If your loan amount is higher, you’ll need jumbo financing.
Jumbo Loan Benefits
- ✅ Borrow beyond conforming loan limits
- ✅ Available as fixed-rate or adjustable-rate jumbo mortgage
- ✅ No private mortgage insurance (PMI) typically required
- ✅ Tailored underwriting for high-net-worth borrowers
- ✅ Ideal for primary residences, second homes, and investment properties
Jumbo Loan Limits for 2025
- Standard conforming loan cap: $766,550
- In high-cost areas (e.g., parts of California, New York): up to $1,149,825
- Any mortgage exceeding these limits is classified as a jumbo loan
Your exact loan threshold will depend on your property location and number of units. Our team can help you determine the correct limit for your purchase.
Jumbo Loan Requirements
Qualifying for a jumbo mortgage is more rigorous than for a conventional loan. Here’s what lenders typically look for:
| Requirement | Standard Guideline |
|---|---|
| Credit score | 700+ (some lenders accept lower with compensating factors) |
| Down payment | 10–20% depending on credit, property type, and lender |
| DTI (Debt-to-Income) | ≤ 43% in most cases |
| Reserves | 6–12 months of mortgage payments in liquid assets |
| Documentation | Full income verification and tax returns required |
Jumbo Loan Interest Rates
While jumbo loan interest rates were traditionally higher than conventional rates, today they are often competitive—or even lower—for well-qualified borrowers. Salute Mortgage works with multiple investors to find the best rate and terms for your scenario.
Jumbo Loan vs Conventional Loan
| Feature | Jumbo Loan | Conventional Loan |
|---|---|---|
| Loan Amount | Above conforming limits | Up to $766,550 (or $1,149,825 in high-cost areas) |
| PMI Required? | No (usually) | Yes, if <20% down |
| Credit Standards | Stricter | More flexible |
| Rate Options | Fixed & ARM | Fixed & ARM |
| Typical Use | High-value homes, luxury real estate | Entry-level or mid-tier homes |
Fixed-Rate Jumbo Mortgage Options
Prefer consistent monthly payments? A fixed-rate jumbo mortgage offers long-term security—ideal if you’re planning to stay in your home for years to come. We also offer ARM options for those seeking lower initial rates.
Jumbo Loan FAQs
A jumbo loan is a type of mortgage used to finance high-value properties that exceed conforming loan limits set by Fannie Mae and Freddie Mac (currently $766,550 in most areas). Because they fall outside these limits, jumbo loans typically require stricter qualifications but offer greater borrowing power.
Jumbo loans are ideal for buyers purchasing luxury homes or properties in high-cost markets, as well as borrowers needing loan amounts above the conforming limit. They’re suited for financially strong individuals with solid credit, income, and assets.
Lenders typically look for a higher credit score (usually 700+), a low debt-to-income ratio, and significant income or liquid assets. Documentation is more extensive than for a conventional loan, but our team can walk you through every step of the process.
Historically, jumbo loans had higher interest rates, but today they are often comparable to or even lower than conventional loan rates—especially for well-qualified borrowers. We’ll help you shop the best jumbo loan terms for your financial profile.
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