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.
What our Clients say
Trusted by families across the Treasure Coast.
I wanted to take a moment to thank Tim Serrat and the Contour Mortgage Team for the excellent job they did leading to purchase of my new home in Satellite Beach. Tim did an outstanding job from day one. He got me the best finance rate, explained the entire process and walked me through every step of the way. Everything happened exactly like he promised with no surprises. Tim was super responsive answering calls and clarifying any questions. To top it off he connected me with the home insurance company that ended up providing the best quote and coverage I could find. I highly recommend Tim Serrat and Contour Mortgage to anyone looking to finance or re-finance their home.
From the very first meeting with Tim I could tell he truly listened and cared about my situation he made the whole process of applying for a mortgage seem pretty easy even though I’m a single mom and the last time I bought a house was 10 years ago! Everybody at Contour mortgage is kind and helpful so glad I trusted first Scott and Janice Reynolds to even believe it was possible and then Tim made it a reality!!! Thank you to Sarah my realtor she’s a sweetheart looking at houses can be exhausting but we did it together smiling even laughing sometimes at the process of trying to find the right house for me. I highly recommend Contour Mortgage excellent team!!
I recently relocated from New York to purchase a home in Vero Beach, and Tim Serratt from Contour Mortgage came highly recommended. I’m so glad I was connected with him — he was absolutely fantastic to work with from start to finish.
Tim has a calm, reassuring demeanor that immediately put me at ease. He is incredibly knowledgeable and walked me through every step of the mortgage process with patience and clarity. Buying a home from out of state can be stressful, but Tim truly held my hand throughout the entire journey and made everything feel manageable.
If you’re looking to purchase a home in Florida and want a mortgage professional who is both skilled and genuinely supportive, I highly recommend working with Tim.