Jumbo Loans

About Jumbo Home Loans

A jumbo loan is any loan that exceeds the conforming loan limits as set by Fannie Mae and Freddie Mac. As of 2022, the limit is $647,200 for most of the US, apart from Alaska, Hawaii, Guam, and the U.S. Virgin Islands, where the limit is $970,800.

There are many benefits to jumbo loans. One of the biggest benefits is that financing options are available for up to $3,000,000. However, interest rates tend to be higher on jumbo loans because lenders generally have a higher risk. This means that credit score and debt to income ratio requirements are stricter than for conventional loans.

Similar to conventional loans, jumbo loans and super jumbo loans offer terms options of 15 or 30 years. However, minimum down payments will vary by loan amount.

Who is this loan for?

Jumbo loans are for luxury properties and homes in highly competitive local real estate markets.

Benefits of Jumbo Loans

Bigger Loan Amounts
Fast closing

Jumbo Loans vs Conventional Loans

The biggest difference between the two, aside from loan requirements, is the loan amount. Jumbo loans are a great option for those looking for luxury properties, second homes, vacation homes, or investment properties. They can also be used to refinance existing home loans or convert multiple loans on a property into one loan.

Jumbo Loans vs Conventional Loans

Loan Type
Jumbo Loan
Conventional Loan
Loan Life
Interest Rates
Monthly payments
Who it's for
First-time homebuyers
Those looking to pay off their mortgage as soon as possible

Ready to get started?

Get pre-qualified with CPF Mortgage to start your home buying process today.
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Christopher Paul Financial, LLC dba CPF Mortgage is a Florida mortgage lender NMLS 222883, Florida state license MLD929, Colorado registered mortgage company NMLS 222883, licensed Tennessee mortgage lender NMLS 222883, and Georgia Residential Mortgage Licensee NMLS 222883. The main office is located at 10710 State Road 54, Ste. C101, Trinity, FL 34655. All loan approvals are credit driven, and all decisions are based on underwriting credit approvals. All rates, terms, and programs are subject to change without notice. Borrowers should consider their options carefully when choosing a loan program.
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