Jumbo Loans — High-Balance Mortgages
A jumbo loan is any mortgage above your county's conforming loan limit. Because these loans exceed Fannie Mae / Freddie Mac guidelines, each investor sets their own pricing and underwriting — which means shopping matters far more than it does on a conforming loan. As a broker, RICH Home Loans shops the jumbo wholesale market on your behalf, often finding pricing 1/8 to 1/4 of a point better than a big-bank retail quote.
When you need a jumbo
You'll need a jumbo loan when the loan amount — not the purchase price — exceeds the conforming limit for the county the property is in. For 2026, that baseline is $806,500 for a 1-unit home. Some common jumbo scenarios we see:
- Denver-area purchase above $850K with 10–20% down
- Move-up buyer in Overland Park or Austin keeping a low down payment but high loan amount
- Second home or vacation property where the loan exceeds the conforming cap
- Cash-out refinance on an appreciated property that pushes the new loan into jumbo territory
Typical jumbo guidelines
- FICO 680+ for most programs (720+ for best pricing)
- 10–20% down payment (higher for very large loans)
- DTI typically capped at 43%, sometimes 45–50% with reserves
- 6–12 months of reserves often required
- Full income documentation (bank statement programs available for self-employed)
- Available for primary, second home, and investment properties
Why shopping matters more on jumbo
Conforming loans look largely the same across lenders — they all sell to Fannie or Freddie. Jumbo loans are different. Each wholesale investor holds these loans in portfolio and sets their own rate sheets, credit overlays, and reserve requirements. That dispersion means a broker with access to multiple jumbo wholesalers can save a borrower thousands over the life of the loan vs. taking the first quote from a single bank.
Frequently asked questions
At what loan amount does a jumbo loan kick in?
Above the conforming loan limit for your county. The 2026 baseline is $806,500 for a 1-unit home; high-cost counties go higher. A loan above the county's limit is a jumbo, and it's priced and underwritten by each investor independently rather than conforming to Fannie/Freddie standards.
What credit score do I need for a jumbo?
Most jumbo programs start at a 680 FICO, and you'll get the best pricing at 720+. Some investors go down to 660 with compensating factors, but pricing tightens significantly below 700.
How much down payment?
10% down is available on many jumbo programs up to certain loan amounts; 20% is more typical above $1.5M. Some low-down-payment jumbo programs exist for strong borrowers. We shop multiple jumbo wholesalers to find the best fit.
Are jumbo rates higher than conforming?
Not always — and less often than people think. Because jumbo investors hold these loans in portfolio instead of selling to Fannie/Freddie, they can price them competitively for the right borrower. In some rate environments jumbo beats conforming by 1/8 to 1/4 of a point.
Related
- Conventional loans — for loans at or below the conforming limit
- Refinance — including jumbo rate-and-term and cash-out
- Austin, TX and Denver, CO — high-jumbo markets we serve
Ready to start?
Jumbo deserves real shopping. Let's see what the market actually offers on your file.