A jumbo loan is a mortgage that exceeds the 2026 Conventional Conforming loan limit of $806,500. Jumbo loans are not eligible for sale to Fannie Mae or Freddie Mac, so they are funded by portfolio lenders or sold to private investors. Underwriting is typically tighter than Conventional and pricing varies more by lender.

Any loan above $806,500 (the 2026 conforming baseline) is technically jumbo. High-cost counties have a higher conforming ceiling of $1,209,750 - between the baseline and ceiling, loans are called "High Balance" and still considered conforming. Jumbo starts above the ceiling.

Most jumbo lenders want 700+ FICO at minimum, with 740+ for best pricing. Some go to 680 with stronger compensating factors. Jumbo is more credit-sensitive than Conventional Conforming.

10-20% down is standard. Some jumbo programs go to 95% LTV with strong FICOs and reserves. 20%+ down avoids most LTV-related rate hits and may eliminate the need for jumbo PMI (some jumbo programs require it, some do not).

Sometimes higher, sometimes lower. Jumbo rates depend on the investor demand for portfolio jumbo paper at the moment. In recent years jumbo has often priced WITHIN 0.125% of Conventional or even below for top borrowers. The pricer above shows live wholesale jumbo pricing.

No - jumbo loans are explicitly excluded from the Loan Factory $2,000 Best Price Guarantee. The program covers fixed-rate Conventional Conforming, FHA, and VA only. Rate Direct still offers wholesale jumbo pricing and $0 origination on jumbo loans.