Jumbo Loans
A loan above the conforming limit for the county it sits in. That limit is set annually and varies across California — a purchase price that is comfortably conventional in one county is a jumbo file in another.
Available in California only. Investor and business-purpose lending nationwide. Owner-occupied home loans in California.
Jumbo loans are not sold to the agencies, so each lender writes its own rules. That single fact explains most of what follows: the expectations are tighter, and they differ far more between lenders than on any other owner-occupied program. Placement matters here more than almost anywhere else on this site.
At a glance
- Threshold
- County conforming limit
- Guidelines
- Set lender by lender
- Reserves
- Weigh more than on conventional
- Lender panel
- 20+
Who this fits
Your loan exceeds the conforming limit for the county
Your credit is strong and your reserves are substantial
Your income documents cleanly, or documents through a Non-QM method
You are buying at California coastal or metropolitan price points
Who this does not fit
Your loan is within the conforming limit. Conventional will cost less. We check that first.
Your reserves are thin. Jumbo lenders expect meaningful post-closing reserves, and this is where marginal files fail.
Your credit is recovering. The bar is higher than conventional, not lower.
You are buying outside California.
How qualification works
Full income documentation, a debt-to-income calculation, a credit review, and reserves — which carry more weight here than on any conventional file. Appraisal requirements are stricter, and a second appraisal is sometimes required on larger loans.
Self-employed borrowers
Self-employed borrowers at these price points are common, and their tax returns often understate the business. Where that is the case, bank statement and profit-and-loss routes reach jumbo loan sizes too — which is frequently the answer when a conventional jumbo file stalls.
We are a brokered business and place the file from a panel of 20+ lenders. Because jumbo guidelines are set lender by lender, the same file genuinely reaches different answers at different desks.
Frequently Asked Questions
What makes a loan jumbo?
It exceeds the conforming loan limit for the county the property is in. The limits are revised annually and high-cost counties carry higher figures, so the threshold is a local question rather than a national one.
Is it much harder to qualify?
Tighter, particularly on reserves and credit. Not harder in kind — the same documentation, held to a higher standard.
Do I need a bigger down payment?
Generally yes, and it varies by lender more than on conventional.
Can I get a jumbo loan if I am self-employed?
Yes, either conventionally where your returns support it, or through a bank statement or profit-and-loss route where they do not.
Will I need two appraisals?
Sometimes, on larger loans. It depends on the lender and the loan size.
Is there mortgage insurance?
Usually not, though the down payment expectation is higher, which is the trade.
Why do lenders differ so much on jumbo?
Because these loans are not sold to the agencies. Each lender holds the risk and writes its own guidelines accordingly.
What happens next
The document load, in detail.
Confirm first
Worth confirming your loan is genuinely above the limit before going further.
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Jumbo Loans
A loan above the conforming limit for the county it sits in.
An alternative to a larger first, where you already hold equity.
Self-employed routes
The self-employed routes to a jumbo loan size.
The self-employed routes to a jumbo loan size.
Request a Scenario Analysis
Send the price, the county, and how your income is earned. The first thing we will establish is whether the file is genuinely jumbo, because conventional is cheaper where it fits.
Nothing on this page or website constitutes an offer of credit, a rate quote, or a commitment to lend. All loans are arranged through third-party lenders and are subject to full application, credit approval, income/asset verification, property appraisal, and underwriting. Terms and availability are subject to change without notice. Loankey.io is a licensed real estate broker; loans are arranged, not made. Conforming loan limits are set annually by the Federal Housing Finance Agency and vary by county. Investor and business-purpose lending nationwide. Owner-occupied home loans in California.