Compare current jumbo mortgage rates

A jumbo loan is a mortgage for an amount that exceeds the conforming loan limit in the area where you’re purchasing a home or refinancing your loan. You might need a jumbo loan if you're buying a larger home or simply buying in an expensive area. A jumbo loan can be used to buy a primary home, an investment property or a vacation home.  

Because jumbo loans are for larger amounts, they generally require higher credit scores and down payments than traditional conforming loans. Maximum loan size and qualifying guidelines vary by location and lender.

Historically, jumbo loan rates have been lower than conforming mortgage rates. However, that has changed post-pandemic, and these days, you’ll often receive a higher mortgage rate on a jumbo loan. 

A jumbo mortgage is a mortgage for an amount that exceeds the Federal Housing Finance Agency’s current conforming loan limits, meaning it cannot be purchased or guaranteed by Fannie Mae or Freddie Mac.  For borrowers in much of the U.S. in 2026, the limit for single-family homes is $832,750 or up to $1,249,125 in high-cost areas, such as Alaska, Hawaii, San Francisco and New York City.

Jumbo guidelines don't just apply to primary residences — they also cover multi-family homes, vacation properties and real estate investments. If your loan amount exceeds the conforming threshold for your property type, you automatically enter jumbo territory. This means you’ll face stricter underwriting standards, but it also gives you the financial backing to buy high-priced properties without draining your own cash reserves.

Since jumbo loans carry a higher degree of risk, lenders enforce more stringent loan eligibility requirements. Generally, to qualify for a jumbo loan, borrowers need:

• Credit score: 700 or higher
• Debt-to-income (DTI) ratio: 43% or lower
• Down payment: 10% to 15% or more
• Cash reserves: Six to 12 months’ worth of mortgage payments in savings

Jumbo requirements scale up based on how you intend to use the property. For instance, lenders view investment properties as higher risk than primary or secondary homes, which means you will likely need a larger down payment to close the deal.

A jumbo loan might be a good fit for you if:

• You’re buying a home whose price exceeds conforming loan limits.
• You have a high credit score. Lenders typically have stricter credit requirements for jumbo loans.
• You have plenty of cash to spare. Lenders generally require at least 10% down — which can be a substantial amount on a large loan — and a large cushion in savings.

Before you decide, weigh these upsides and downsides.

Borrowers might have to jump through a few extra hoops to get a jumbo mortgage than they would for a conforming one. Here are the key steps to getting this type of loan:

• Make sure you qualify: You’ll need to clear three hurdles to qualify for a jumbo loan with the most favorable terms: a low DTI ratio, a stellar credit score and hefty reserves. You might need as much as 12 months’ worth of mortgage payments in the bank, in addition to sufficient funds to cover closing costs.
• Gather documentation: As with any loan, lenders will need to see proof of your income, credit history and assets.
• Shop around: Finding the best deal on a jumbo loan might take a bit more effort. Broaden your search to include all sorts of lenders, and don’t forget to include mortgage brokers. Bankrate lists the leading lenders in every state; be sure to read not just our take, but also the customer comments featured in most lender reviews.
• Expect extra scrutiny: Jumbo lenders are taking a bigger risk by loaning you a greater amount of money, so they might spend more time examining your income, verifying your cash reserves and generally vetting your finances. The underwriting process may well take longer.

• Jumbo loan resources
• 2025 jumbo loan limits by state
• Jumbo vs. conventional loans