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 $484,350 is considered a jumbo loan. In high-cost counties, such as parts of New York, California, or Hawaii, the limit can reach $726,525 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.
Start Today
Buying a luxury home doesn’t have to feel out of reach. With the right jumbo loan, you can make it happen.
What our Clients say
Trusted by families across the Treasure Coast.
Tim was absolutely amazing figuring our mortgage out. It was such a stressful situation and the first lender denied us literally at the last minute! But Tim kept us calm and reassured us that it was gonna happen. And let me tell you he did it! He pulled a rabbit out of the hat and made some magic happen! I just cannot say enough about how pleased we are with Contour. Tim and his Wife Liz make an excellent team and even followed up with us when this stressful process was all done. You can tell they really care about their clients. We will definitely be only using them in our next mortgage!
Im a 25 year old Navy veteran going through college. My wife and I wanted a house to start building our family and Tim made ut all possible. He worked with us to fix our finances, and get us into our dream house. My family and I are extremely greatful for the work that Tim did and we are hoping that if anyone is in a similar situation in life and are too scared to try, you feel a little more comfortable with letting Tim help you.
Thankful, grateful and blessed. These are the words that come to mind now that we are in our beautiful home. Thankful to Tim for carrying us throughout the sometimes stressful moments of the home buying process. Tim never wavered and when road blocks come, as they sometimes do, Tim plowed through them and took every possible step to make sure we got our home. Communicating every aspect to us efficiently and clearly (even figuratively talking us off of the ledge a few times 😂) Grateful that we chose Tim & Liz to handle this home purchase as I know in my heart that if not for them, we may not be in our beautiful home had we went with another mortgage company. Blessed to now be in our home, to have chosen Contour mortgage , and to have met and worked with these two amazing people. Dreams do come true 🥰 Thank you Tim, Liz, and the entire team at Contour mortgage for making ours come true! T&C