As home prices rise, especially in competitive markets, more buyers are looking for financing that goes beyond standard loan limits. That’s where a jumbo loan comes in. Designed for high-value homes, jumbo loans allow you to borrow more than conventional limits. Even better, with the right lender, they can offer flexible and competitive terms.
At Best Interest Financial, we help qualified buyers access customized jumbo loan solutions that align with their goals.
What Is a Jumbo Loan?
A jumbo loan is a mortgage that exceeds the conforming loan limit set by Fannie Mae and Freddie Mac. In most counties, the limit is $766,550 (as of 2024), though it may be higher in designated high-cost areas.
If you’re buying a home above these thresholds—or refinancing a large mortgage—a jumbo loan gives you the borrowing power you need, all in one loan.
Jumbo loans are commonly used to:
- Purchase a primary residence in a high-cost market
- Finance luxury homes, condos, or vacation properties
- Refinance existing jumbo loans for better rates
- Buy high-priced investment properties
To explore additional options, review all of our loan programs.
What Are the Requirements?
Because jumbo loans aren’t backed by government agencies, lenders may set more detailed requirements. However, Best Interest Financial works with multiple providers, giving you access to more options.
Most jumbo lenders will ask for:
- A credit score of 680 or higher
- A lower debt-to-income ratio
- A down payment of 10% to 20%
- Proof of stable income and liquid assets
- Appraisals or extra documentation in some cases
We make this process simple by matching you with lenders that best fit your financial profile.
Jumbo vs. Conventional Loans
Jumbo loans differ in several ways:
- They exceed conforming loan limits
- Underwriting may be more detailed
- They’re not eligible for purchase by Fannie Mae or Freddie Mac
- Interest rates can vary—but are often competitive
Previously, jumbo loans were considered riskier. However, many lenders now offer jumbo pricing that’s on par with standard loans, especially for borrowers with strong credit.
Not sure if your property qualifies? Our team can help you find out.
Who Should Consider a Jumbo Loan?
Jumbo loans work well if:
- You’re buying or refinancing a home above standard loan limits
- You don’t want to split your mortgage across multiple loans
- You have strong credit and stable income
- You want a single mortgage with flexible terms
For a more in-depth breakdown, here’s a helpful Investopedia guide to jumbo loans that covers how they work.
Get Pre-Approved Today
Jumbo loans don’t have to be complicated. At BIF Mortgage, we streamline the process and connect you with lenders who make large loan approvals easy and efficient.
Apply now or contact us to get started. Whether you’re purchasing a luxury home or refinancing a high-value property, we’ll help you find the right jumbo loan with confidence.