Shane Direct: (949) 322-3616 | Brian & Nichole: (949) 202-5332

If you need to take out a loan to purchase a high-value property, there is a chance that you will be applying for a jumbo mortgage.

This type of loan is similar to a conventional mortgage both in terms of qualification requirements and characteristics.

Although there is a tendency for interest rates to range higher for jumbo mortgages, they can also fall within the same range.

What is a Jumbo Loan?

To understand what a jumbo mortgage is and why it is needed, you must first understand what a conventional loan is. A conventional mortgage is for borrowing an amount below the conforming loan limits set by the Federal Housing Finance Agency (FHFA) for Fannie Mae and Freddie Mac.

A jumbo loan is what you need in order to borrow above those limits.

Do You Need to Apply for a Jumbo Loan?

The conforming loan limits are set by county across the country.

For most locations in the contiguous US as well as in the District of Columbia and Puerto Rico, the general conforming loan limits are as follows:

1 unit:


2 units:


3 units:


4 units:


In high-cost areas, as well as all of Alaska and Hawaii, the conforming loan limits are:

1 unit:


2 units:


3 units:


4 units:


If you are not sure what the conforming loan limits are for your county, we can let you know during your jumbo loan consultation.

How Do You Qualify for a Jumbo Mortgage?

The same basic factors which are assessed to qualify a borrower for a conventional loan are also used to qualify a customer for a jumbo mortgage.

Credit score.

Debt-to-income ratio.

Cash reserves.

Employment status
and history.

Down payment amount.

(usually two rather than one).

When you take out a jumbo mortgage, you are borrowing more money than you would for a conventional loan, which presents more risk to the lender.

For this reason, lenders do set higher standards in terms of credit score and DTI ratio requirements as well as cash reserves. Your down payment could be higher than it would be for a conventional mortgage, or it could be within the same range, depending on all factors which are assessed during the application process.

What Our Clients Are Saying

Facundo Lavino
Facundo Lavino
19:16 26 Oct 21
Nichole and Brian are AMAZING. They were resourceful, patient and made it happen for us. We got a new house thanks to them. Thank you very much
They did an amazing job of getting the rates we wanted and quickly with ease. I highly recommend them if you are buying in CA!
Shaktivan Chamba
Shaktivan Chamba
22:18 15 Oct 21
Brian and Nicole are a pleasure to work with. appreciate the clarity, availability to answer the many questions, capabilities to succuessfully fund, kindness, trustworthiness. thanks
Nauz Karami
Nauz Karami
14:42 13 Oct 21
It was such a pleasure to work with Brian and Nichole on this loan. As a real estate professional I work with so many lenders/ brokers so when it came time to choosing one for my personal deal I definitely had a lot of options. with that said I chose Brian and his team as they were the most responsive, gave me the best rate and we’re so on top of the file. The whole process was super easy and smooth and we didn’t have a single delay! Will definitely be sending all my clients to Grand Lending Team.
00:35 13 Oct 21
We had a great experience working with Nicole & Brian. They were efficient, professional, thorough, and made us feel comfortable throughout the entire process.

Apply for a Jumbo Loan Now With Competitive Rates

If you are ready to apply for competitive jumbo financing to purchase a home anywhere in the country, The Best Home Loans is here to bring you affordable rates and favorable terms. Schedule your consultation today by calling (800) 293-2133. We offer jumbo loans in California, New York, Texas, Florida, and all 50 states.

Free Mortgage Rate Quote!