10.1%.Jumbo Loans

Used mostly for expensive or custom-built homes, jumbo loans exceed the maximum conventional loan limits established by Fannie Mae and Freddie Mac. While the limit on conforming loans in 2022 is $647,200 in most areas of the United States, jumbo mortgages offer much higher purchase limits.

Compared to conventional loans, jumbo loans typically come with higher interest rates and down payment requirements. The minimum down is as low as 10.1%.

Jumbo loans are most attractive to those borrowers that have:

• a lower debt-to-income ratio;
• a healthy credit score of 700 or higher; and
• the ability to make a larger down payment.