Jumbo / non-conforming Home Loans
For borrowing above $832,750 — and for the situations where agency guidelines simply do not fit. Different rules, judged on the whole picture rather than a checklist.
Jumbo/Non-Conforming Home Loans
Everything the programme does, grouped so you can find the part you care about.
Anything here raise a question? That's what the phone is for.
Jumbo loans are for people who need to borrow over $832,750. Below that figure you are in conforming territory, where agency guidelines and pricing apply. Conforming limits reset annually and are higher in some counties. Confirm the current figure with us before assuming which side of the line you are on.
A 10% to 20% down payment is typically required. The exact figure moves with the loan size, the property type and the strength of the rest of your file. Cash reserves after closing are usually expected too.
Maybe you have had a recent bankruptcy, short sale or foreclosure. Current agency guidelines require waiting periods after such credit events before qualifying. Non-conforming loans have qualifying provisions without the waiting periods.
Foreign national loans are popular non-conforming loans. These are for people who are not U.S. citizens and live abroad — buyers agency programmes cannot serve at all.
Perhaps you are self-employed and need to verify your income with documentation other than tax returns. Non-conforming loans accept alternative documentation — bank statements and similar, rather than two years of returns that write your income down.
Jumbo and non-conforming loans typically require larger down payments and have higher interest rates than agency loans. There is no agency guarantee behind them, so the lender carries the risk and prices accordingly.
Because each lender writes its own rules, the same file can be declined in one place and approved comfortably in another. Shopping matters more on these loans than on any agency product.
Some borrowers find it challenging to qualify given current agency guidelines. This is when a non-conforming loan may be the solution.
If an agency lender has already told you no, that is not the end of the conversation — it usually just means the wrong rulebook was applied to your situation.
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FrequentlyAsked Questions
No — and it's the single most common reason people delay buying. Conventional starts at 3% down, FHA at 3.5%, and VA and USDA can require nothing at all. The trade-off is mortgage insurance and a higher payment, which is worth weighing against several more years of saving.
It usually comes down to credit. FHA is more forgiving of past credit events and starts at 3.5% down, but its insurance typically stays for the life of the loan. Conventional needs stronger credit, starts at 3%, and its PMI cancels at 20% equity — which can be worth thousands over time.
USDA uses its own eligibility map and the boundaries surprise people — plenty of areas that feel suburban still qualify. There are also household income limits by county. Send us an address and we'll check both in a couple of minutes.
Often, yes. You'll use one loan program, but it can frequently be paired with assistance run by your state or county. These are consistently underused because buyers don't know they exist — ask us which ones you'd qualify for.
For the right situation it's a genuine option; for the wrong one it's expensive. The balance grows rather than shrinks, and it affects what's left to heirs. HUD counselling is required for good reason. We're glad to walk through it with your family present, and to compare it against downsizing or a HELOC first.