What Is a Jumbo Loan?

A jumbo loan is a type of mortgage designed for homes that exceed the loan limits set by the Federal Housing Finance Agency (FHFA). Because these loans are too large to be purchased or guaranteed by Fannie Mae or Freddie Mac, they’re considered non-conforming loans and come with stricter qualification requirements.

Why Choose a Jumbo Loan?

If you’re looking at luxury properties or homes in competitive real estate markets, a jumbo loan may be the right fit. Benefits include:

  • Financing for high-value homes – go beyond conventional loan limits
  • Competitive rates – often in line with traditional mortgages
  • Flexible loan amounts – tailored to your property’s value
  • Opportunity to buy in prime locations – without liquidating assets

Jumbo Loan Requirements

Because jumbo loans involve larger amounts, lenders look for strong financial stability. Typically, you’ll need:

  • A credit score of 700+
  • A low debt-to-income (DTI) ratio (usually under 43%)
  • Proof of sufficient income (tax returns, pay stubs, bank statements)
  • A down payment of 10–15% (varies by lender and loan size)

How Much Is a Jumbo Loan?

In most areas, any mortgage above $806,500 is considered a jumbo loan. In high-cost counties, such as parts of New York, California, or Hawaii, the limit can reach $1,209,750 or more. In Florida’s luxury markets, jumbo loans often make the difference between settling and getting the home you truly want.

Perfect for Luxury Homes in Vero Beach

If your dream home exceeds traditional loan limits, a jumbo loan may be your best option. Tim and Liz Serratt specialize in guiding buyers through the process — from pre-qualification to closing — so you can purchase with confidence.

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Buying a luxury home doesn’t have to feel out of reach. With the right jumbo loan, you can make it happen.

Disclaimer: Up to $3,000,000” refers to maximum loan amounts available on certain jumbo loan programs for highly qualified borrowers. Maximum loan amounts and LTV limits vary by product, occupancy type, property type and borrower profile and are not available in all areas or situations. Additional reserve and documentation requirements may apply. Subject to credit approval and underwriting guidelines. Not all applicants will qualify for the maximum loan amount.