Above the conforming limit.Bigger files, sharper underwriting.

What a jumbo loan is

A jumbo loan is any mortgage above the conforming limit ($832,750 for 2026 in NE Florida). Because jumbos can't be sold to Fannie or Freddie, lenders hold the risk on their balance sheet, so underwriting tightens: bigger reserves, stronger credit, more documentation.

Who qualifies

Other qualifying considerations:

• Documentable income, with two years of tax returns or full W-2 history
• Debt-to-income typically capped at 43%, sometimes flexed for high-net-worth borrowers
• Property: primary residence, second home, or investment (rate increases as risk increases)

When jumbo is the right call

• Purchase price puts you above the conforming limit ($832,750+ in NE Florida after down payment)
• High income, strong credit, meaningful reserves
• Investor with portfolio approach to multiple high-value properties
• Refinance of an existing jumbo to capture rate improvement or cash out

When to look at other programs

• Just barely over the conforming limit: a piggyback (80% conforming first + 10% second + 10% down) may price better
• VA-eligible buyer: VA jumbo exists with 0% down and no PMI; almost always wins for veterans
• Cash flow tight: jumbo reserves requirement may be the binding constraint

Want a number before you talk to anyone? See what you can qualify for using this week's Freddie Mac rate. No application, no credit pull.