Jumbo Loan

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A Jumbo loan is a solution for borrowers that want to finance more than the Fannie Mae and Freddie Mac conforming loan limit, which ranges from $647,200 to $970,800 depending on the area of the country. Jumbo loans are funded by conventional (private) lenders. If you are in the market for a more expensive home, a jumbo loan may be the right solution for you.

Learn more about conventional loans.

Jumbo Loan Benefits

In addition to the ability to finance more home, there are other benefits:

  • Preserve capital by not having to bring the loan value below the conforming loan limit.
  • Often the simplest option to finance larger loan amounts.
  • Can be used for your primary residence, a second home, or an investment property.
  • Flexibility of fixed-rate or adjustable-rate options.

Jumbo Loan Requirements

Requirements to qualify for a Jumbo loan are generally stricter than those of a conventional loan:

  • A higher credit score – typically 680 or higher
  • Lower debt-to-income ratio
  • A higher down payment minimum of at least 10%, and commonly 20%
  • May require higher cash reserves
  • Can be more stringent income verification


Jumbo Loan Limits

In order for a loan to be considered jumbo, the loan amount must exceed the maximum conforming limit in your area. If the loan limit exceeds this number, you exit the conventional loan range and enter jumbo territory. In most areas of the US, this limit is $647,200, but in some counties, this limit is higher.

The maximum jumbo loan limit is different between lenders, and often changes. The maximum limit will most often reach into seven-figure ranges. Get in touch with Fairway of the Rockies to find out what the jumbo maximum is today.

Get Started with Fairway of the Rockies

Fairway of the Rockies provides jumbo loans for Colorado homebuyers and beyond. If you are searching for an extraordinary mortgage lender serving the Rocky Mountain Region, complete our easy online form to get in touch with experienced advisors ready to help.