Finance Your Dream Home with Jumbo Loans

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What is a Jumbo Loan?

A Jumbo Loan is a type of mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. These loans offer various term options, including fixed-rate and adjustable-rate mortgages, providing flexibility to suit your financial situation.

Jumbo Loans are perfect for those looking to finance luxury homes or properties exceeding conventional loan limits. Because Jumbo Loans carry more risk for lenders, they often require stricter credit criteria and larger down payments.

Loan Benefits

High Loan Limits

Finance luxury homes and high-value properties without conforming loan limits, providing the flexibility to purchase more expensive real estate.

Flexible Terms

Choose from various term options, including fixed-rate and adjustable-rate mortgages, to fit your financial goals.

No Private Mortgage Insurance

Jumbo Loans typically do not require private mortgage insurance (PMI), even with a down payment of less than 20%.

Eligibility Requirements

Minimum credit score of 660 (higher for better rates)
Down payment of at least 10-20%
Proof of stable employment and high income
Debt-to-income ratio within acceptable limits (typically around 43%)
Significant assets and reserves
Property must meet lender-specific appraisal standards
Owner occupied, second home, and non-owner occupied home

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Today’s mortgage rates

Rates as of Nov 14, 2024 See assumptions

Frequently asked questions

What is the minimum down payment for a Jumbo Loan?

The minimum down payment typically ranges from 10-20%, depending on the lender and your credit profile.

Can I use a Jumbo Loan to refinance my existing mortgage?

Yes, Jumbo Loans can be used for both purchasing new properties and refinancing existing high-value mortgages.

What is the minimum credit score needed for a Jumbo Loan?

A minimum credit score of 700 is typically required, but higher scores may qualify for better rates.

Are there any specific property types that qualify for Jumbo Loans?

Jumbo Loans can be used to finance various property types, including single-family homes, multi-family homes, and luxury condominiums.

Do Jumbo Loans require private mortgage insurance (PMI)?

No, Jumbo Loans typically do not require PMI, even if the down payment is less than 20%.

See what our clients say about us

We are humbled by the kind words of our clients. And we are happy that we were the ones to help turn their mortgage goals into reality.

First-Time Homebuyers' Delight

Suzie and the Truss Financial Group exceeded our expectations in securing our mortgage as first-time homebuyers. Suzie's expertise and guidance made the potentially daunting process incredibly smooth and manageable.

Robert F.

San Tan Valley, AZ, Software Engineer

Great for Bank Statement Loans

I did a bank statement income loan and it chose to not include some deposits. This is just a heads up, not a complaint. Truss is definitely a good company, and I would ABSOLUTELY work with them again. Marcus was honest and helpful throughout the process.

Berj F.

Concord, CA, Business Owner

Personalized Service

"I am more than pleased to work with Delania Tak and would confidently recommend her to anyone seeking reliable assistance in securing a loan. Her commitment to excellence and personalized care make her an exceptional choice."

Howard L.

CA, Real Estate Investor

Cash-Out Refinance Made Easy

Thank you so much to Guillermo Correa and Truss Financial. They made doing my cash-out refinance a piece of cake! The interest rate was much lower than other lenders I checked with. The fees were reasonable, and the timeline was very smooth.

RealEstateLady 1.

Sandy, OR, Real Estate Broker

Exceptional for Self-Employed

After months of struggling with other lenders, Paul at Truss Financial made it easy to complete a cash-out refinance of a new primary residence. As a small business owner and real estate investor, my income situation is complicated but Paul was able to guide me through the process with relative ease.

Baird K.

New York, NY, Small Business Owner and Real Estate Investor

Innovative Solutions for Self-Employed

Garrett Jimenez was super creative and helpful every step of the way. Being self-employed makes getting a loan difficult. But he found ways to overcome each and every hurdle and really hit a home run for us.

Jason M.

Rancho Cucamonga, CA, Self-Employed Individual