Loan size
Jumbo financing generally applies outside standard conforming loan limits.
Jumbo mortgages
Larger loan amounts require a different underwriting conversation.
Jumbo financing is generally used when the requested loan amount exceeds applicable conforming limits or when a non-agency structure is a better fit.
Credit standards
Jumbo programs often require stronger credit profiles and more conservative underwriting.
Reserves
Additional post-closing liquidity may be required depending on the program and borrower profile.
Income documentation
Complex income, bonuses, business ownership, and asset profiles can require deeper documentation.
Down payment
Required equity can vary significantly across jumbo programs.
Program comparison
Pricing, reserves, underwriting, and loan structure can differ materially between jumbo lenders.