A jumbo loan is a mortgage loan that exceeds the limits set by the Federal Housing Finance Agency (FHFA). Jumbo loans are called non-conforming loans because they don’t conform to these limits. Since jumbo mortgages don’t have the guarantees that come with conforming loans, you tend to be subject to greater analysis and may have higher borrowing costs. These loans also have stricter requirements than other types of mortgages, and you’ll have to meet very specific property type, down payment, credit score and debt-to-income ratio requirements to get one. Jumbo loans come in a variety of terms and repayment schedules, and they can be fixed-rate or adjustable-rate loans.

As long as you meet your lender’s other requirements, you can use most jumbo loans for primary residences, vacation homes and investment properties.

To get pre-approved for a Jumbo loan, please click the Get Approved button below. Still have some questions? Call your licensed Approved Mortgage Solutions mortgage broker at the phone number below or Contact Us and we’ll reach out to you.