THE LOWEST RATES & FEES
The Best Jumbo Loan Options Anywhere
We are proud to offer some of the best jumbo mortgage options on the market today. Get your free, no obligation rate quote today. Only takes a minute!
Our Jumbo Loans Rates
Mortgage Type
Interest Rate
APR
Jumbo Purchase 15 Yr Fixed Rate
6.50%
6.58%
Jumbo Refi 15 Yr Fixed Rate
6.62%
6.70%
Jumbo Purchase 30 Yr Fixed Rate
5.70%
5.82%
Jumbo Refi 15 Yr Fixed Rate
5.70%
5.82%
Rates based on the following scenario: $1,100,000 home value, $880,000 loan amount, 780+ credit score, single family residence. Rates last updated on 1/17/2025.
Our Jumbo Loans Overview
- Loans amounts from $802,650 up to $5,000,000
- Purchases, rate/term refinances, and cash out refinances
- Single family homes, condos, and multi-family (2-4 units)
- Primary residences, second homes, and investment properties
- No minimum reserves requirement for certain jumbo products
- 660 minimum credit score
- 10% down payment options
- No mortgage insurance
FAQ
Answers to commonly asked questions about our jumbo loans
What is a jumbo loan?
A jumbo loan is a type of mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). These limits vary by location, but in most parts of the United States, the conforming loan limit is now $802,650. In high-cost areas, like parts of California or New York, the limit can be higher, often above $1 million. Jumbo loans allow buyers to finance homes that exceed conforming loan limits without needing to secure multiple smaller loans.
Because jumbo loans exceed the conforming loan limits, they are not eligible to be purchased or guaranteed by the government-sponsored entities that back most conventional loans. This makes jumbo loans riskier for lenders and will often result in a slightly higher interest rate than conforming loans.
What is the debt to income ratio for a jumbo loan?
The maximum debt-to-income (DTI) ratio for a jumbo loan is often stricter than a conforming loan because of the higher risk associated with these larger loan amounts. Many jumbo loan products require a DTI ratio of 43% or less, but we do offer some jumbo loan products that allow at DTI of up to 50% with compensating factors (like cash reserves and excellent credit).
DTI is calculated by dividing total monthly debt payments (including mortgage, car loans, student loans, credit cards, and any other debt payment that appears on a credit report) by your gross monthly income. For example, if your total debt payments each month total $5,000, and you have $12,000 a month in income, your DTI ratio would be 42%.
Are jumbo interest rates higher than conforming loan rates?
Yes, jumbo loan interest rates are generally higher than conforming loan rates. This is because jumbo loans represent a higher risk to lenders for several reasons:
While jumbo loan rates used to be significantly higher than conforming loan rates, the gap has narrowed in recent years due to competition in the mortgage market. Jumbo loan rates are still generally a little higher than conforming loan rates, but the difference is not nearly as significant.
What are the cash reserve requirements for a jumbo loan?
Cash reserves are considered liquid assets such as cash, savings, or easily accessible investments. These reserves are intended to show you have the financial ability to continue making monthly mortgage payments in case of an unexpected event or loss of income. Jumbo loan borrowers are often required to have enough cash reserves on hand to pay a certain number of mortgage payments after a loan closes. The specific cash reserves requirement varies by the jumbo loan product you select. 6 to 12 months of cash reserves is most common, but it could be more or less than this depending on the jumbo loan and your overall financial profile.
What type of buyer should consider a jumbo loan?
A jumbo loan is suitable for buyers who are looking to finance a property that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). For 2025, the national conforming loan limit is $802,650. In high-cost areas like parts of Alaska and Hawaii, this cap rises to $1,203,975. The following types of buyers should consider a jumbo loan:
What type of properties can be purchased with a jumbo loan?
Jumbo loans can be used to purchase high-value properties that exceed conforming loan limits, such as luxury homes, primary residences in expensive markets, and second or vacation properties. They can also finance investment properties like multi-family homes or high-end rental units, as well as condominiums in high-cost urban areas. Jumbo loans are ideal for properties located in upscale neighborhoods, coastal areas, or major cities where prices surpass the limits for standard mortgages.
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Client Testimonials
I am happy to wholeheartedly recommend Shay Wright with Home Financing Direct! He answered all of my questions and gave quality mortgage lending advice to my family. I would absolutely use Shay’s services again and have no hesitation recommending him!
Erin Hosford
I worked with Shay Wright to buy my first home and he was genuinely awesome. Shay was great at answering everything I asked and explaining to me how things worked. I shopped around a little for rates and these guys were able to provide me with the best ones.
Tanner Lewis
I recently refinanced with Home Financing Direct. The whole process was great! No surprises, great transparency, and a very simple process from start to finish. I was able to quickly secure a new home loan at an amazing rate! I would definitely work with them again.
Casey Woolley
Shay has been excellent in working with me right from the beginning. I felt he didn’t look my refinance as another file but took personal interest in advising me the best route. He also locked me on excellent rate where corporate banks were about 0.6 percent higher.
Fareed S
Very Professional, Shay Wright got me the best deal, I would highly recommend. I was stress free throughout the whole process and whenever I had a question he would respond right away. He is very knowledgeable and really knows what he is doing. I value his kindness, honesty, and hard work!
Miguel San Miguel
Shay Wright worked with us to qualify for a mortgage, gave us a great rate and was helpful from start to finish. Shay was available to give guidance and to answer questions, even during evenings and on weekends. I highly recommend you consider working with Shay.
Linda Snyder
Shay is so professional and responsive, he answered all my questions with patient in detail. Rates that he is offering are so competitive. He is the key to my recent real estate transactions.
Milad Zare
I was impressed with the professional and responsive communication, which made the whole process painless. We locked in a great rate quickly and Shay kept us informed ever step of the way. Better rates without all the headaches!
Gabriel Gross
We had a very positive experience with Home Financing Direct. Our representative, Shay Wright, was the best we could have asked for. He was very informative and helpful throughout the entire process. I’d highly recommend Shay to anyone looking for home financing.
Shaun Gardiner
Shay was a pleasure to work with! He was professional and responsive, and I felt like he did a great job communicating. He proactively communicated about every step of the process, and was fast to answer any questions. Highly recommend working with Shay @ Home Financing Direct!
Brad Warren
Had a great experience with Shay. He was always responsive and answered any questions I had. I was very happy with the process and got it done in my required timeline. All paperwork was submitted electronically using secure portals. All very professional and safe. I got a really good interest rate to boot.
Isaac Davis
I had multiple pre-qualification letters from several lenders but specifically wanted to work with Shay because of his responsiveness and low closing costs. He was extremely patient throughout the process and truly had our best interest. I will be working with Shay again in the near future. thanks for all your help!
Nirmal Kurian
We just closed on a refinance with Shay Wright, in under 15 days for an immaculate rate w/o buying points. Also as a plus the closing costs were low. Shay was the epitome of a professional and would recommend him to anyone looking for a Refi or to buy a home.
Rob Prescott
Amazing communication and fastest loan process ever! I've gone through a few home mortgages in my life and this was by far the fastest. Even more amazing was the speed during Covid-19. I have friends that were going through loans/refi's that were taking 6+ weeks. Mine was literally closed within 2 weeks! Highly recommend
Brandon Southern
Thanks so much Carol! It was a pleasure working with you as well, and I really appreciate how responsive you were when I needed a document from you. That was very helpful. I hope y'all enjoy your new home, and I look forward to hopefully working together sometime again in the future!
Carol Lee