Why Choose a Conventional Loan
Strong fit for qualified borrowers.
From conforming to jumbo options, these loans give you greater flexibility, better rates, and fewer restrictions—perfect for buyers with solid financials.
Overview of Jumbo Loan Eligibility Requirements
To qualify for a jumbo loan, borrowers must meet specific eligibility criteria, which typically include the following:
Credit Score: A minimum credit score of 700 is often required, though some lenders may accept lower scores.
Down Payment: A down payment of at least 10% to 20% is generally necessary, depending on the lender and loan amount.
Debt-to-Income Ratio: A debt-to-income (DTI) ratio of 43% or lower is typically preferred.
Income Verification: Borrowers must provide proof of stable income, often through tax returns, pay stubs, and bank statements.
Assets and Reserves: Lenders may require borrowers to have significant cash reserves, usually enough to cover several months of mortgage payments.
Property Appraisal: A professional appraisal is needed to confirm the property's value meets or exceeds the loan amount.
Credit Score Guidelines
A minimum credit score of 680 is typically recommended for Jumbo Loan approval. However, borrowers who fall short may still have options. Contact our team to explore flexible alternatives based on your financial profile.
Down Payment Requirements
Most Jumbo Loan programs require a down payment of at least 10.01%. Unlike conforming loans, these programs generally do not offer low down payment options or access to down payment assistance.
Debt-to-Income (DTI) Ratio Requirements
Jumbo Loans usually require a maximum DTI of 43%.To calculate DTI, divide your total monthly recurring debts (e.g., car payments, credit cards) by your gross monthly income.
Example:If your total monthly debts are $2,300 and your gross monthly income is $6,000:$2,300 ÷ $6,000 = 38.3% DTI
Mortgage Insurance Requirements
Unlike conventional loans, mortgage insurance is typically not available for Jumbo Loans. As a result, lenders often require higher down payments and stronger financial profiles.
Eligible Property Types
Eligible properties vary by product, but may include:
Primary residences or second homes
Single-family homes, townhomes (PUDs), and condominiums
1–4 unit properties
Some products also allow investment properties
Refer to individual loan program guidelines for specific property eligibility.
Jumbo Loans
Testimonials
Ray
Beaumont
Our commercial build got funded on time thanks to Tory. Total professional.
Linda
Bryan
Tory knows his stuff—he structured our loan in a way that really worked for us.
DeShawn
Irving
Hands down the best experience I’ve had with a commercial lender.
Monica
Grand Prairie
From land to development, Tory supported us every step of the way.
Jed
Conroe
Tory’s insights helped us avoid costly mistakes. He’s not just a lender—he’s a partner.
Conforming vs. Jumbo Loans: What’s the Difference?
Choose the right conventional loan for your needs
The Benefits of Putting 20% Down
Avoid PMI and lower your long-term costs
When to Refinance a Conventional Loan
Know the signs it’s time for a change
Mortgage Tips, Tools & Insights
Clear guidance for smart decisions.
Get expert advice on home buying, refinancing, and loan options. Our blog makes mortgage topics easy to understand so you can move forward with confidence.