Jumbo Loans

Jumbo loans are typically referred to loans that exceed the conventional loan limits that are currently set at $647k. If you're looking to obtain a mortgage exceeding that amount, then a jumbo loan is the right choice for you.

Jumbo Loan requirements

Minimum 720 credit score
Minimum 10% down payment
6-12 months of reserves
Debt-to-income ration under 45%
Florida FHA loan

Benefits of Jumbo loan

Higher loan limits than conventional or FHA loans.
Use it for house financing, renovation, or building your dream home
Finance luxury or multi-family investment properties

Today’s rates

Jumbo Loans

Rates for Primary Home Purchase
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Loan Amount


Down Payment



30 Years

Monthly Principal & Interest Payment (Excludes taxes and hazard insurance)


Estimated Points


Disclosures, Assumptions & APR Information
Rates, terms, and fees as of May 12, 2023 1:07 pm and subject to change without notice.

Mortgage interest rates shown are based on a 30-day lock for the purchase of a primary residence. Rates shown include 1.00 discount point. All loans are subject to borrower meeting lender guidelines.

Rates and terms subject to change based on market conditions and borrower eligibility. The rates shown are based upon a variety of conditions and circumstances. These include a consumer credit score which may vary from your individual credit score. A loan’s interest rate depends upon the specific features of the loan transaction and the borrower’s credit profile up to the time of closing. The advertised rates for 30-year fixed jumbo products are based on an assumed loan amount of $800,000.00, $1,000,000.00 purchase transaction of primary residence, a 780 FICO score with a loan-to-value ratio of 80% maximum (20% Down-Payment) on a primary single family home. The annual percentage rate (APR), is the expense paid for credit over the loan term expressed as an annual rate. The Annual Percentage Rate (APR) displayed for the loan products shown here reflects interest rate and approximate cost of prepaid finance charges / discount points based on rate scenarios shown. The cost of prepaid finance charges are approximations which do not constitute and are not a substitute for the Loan Estimate of Closing Costs (LE) that a borrower receives once they apply for a loan. All conventional loans with a down payment of less than 20% require mortgage insurance. Mortgage insurance may increase the monthly payment and Annual Percentage Rate (APR) of the loan. For more information regarding our various loan products including no points or closing cost options, please contact us at (407) 584-4437
Please remember that we don’t have all your information. Therefore, the rate and payment result you see may not reflect your actual situation. Mortgage Expert, Inc. offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call (407) 584-4437 to talk to a licensed loan originator.
Due to various federal, state and local requirements, certain products may not be available in all areas.
The monthly payment amount displayed includes principal and interest. The payment amount does not include homeowner’s insurance or property taxes which must be paid in addition to your loan payment.

These mortgage rates are based upon a variety of assumptions and conditions which include a consumer credit score which may be higher or lower than your individual credit score. Your loan’s interest rate will depend upon the specific characteristics of your loan transaction and your credit profile up to the time of closing. For more information, please contact us.

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What is the minimum credit score needed for a jumbo loan?
This will ultimately depend on the loan amount, although you will want at least a 680 score to start. Up to $2,000,000 is a minimum of 680, up to $2,500,000 is 720 for a primary residence. For a second home, you will need a minimum 680 score for a loan amount up to $2,000,000. Anything higher, you will need at least a 720 for a loan amount of up to $2,500,000. If you are putting a down payment of 30%, you will need a 720 score. If you are putting down 25%, you will need a 760.
How to get the best rates on a Jumbo loan?
Depending on your circumstance, typically Banks are more competitive on Jumbo mortgage rates compared to a mortgage broker. This is because they portfolio the loan and are able to offer high net worth individuals with significantly lower rates. However, if you don't fit in the perfect box for a bank then you can probably get a lower Jumbo rate through a local mortgage broker.
Can you buy a house with no closing costs?
Yes. You can either have the seller of the house you are purchasing cover all closing costs or contact a low priced mortgage broker to buy a house with no closing costs.
What is the max DTI needed for a jumbo loan?
You will need a maximum of 45% DTI for a jumbo loan. That includes for an one or two unit purchase as well as a cash out refinance. This is also whether you are purchasing a primary residence, second home, or investment property.
What is my minimum down payment needed for a jumbo loan?
If you are purchasing a one-unit property as your primary residence, you will need to put down at least 10%. For a two-unit property, you would need to put down 15%. If you are looking for a jumbo loan over $2,000,000, you would need to put down at least 25%.If you are purchasing a second home, you would need to put down at least 10% for a loan amount up to $2,000,000 & 25-30% for a loan amount of up to $2,500,000 depending on your credit score (720+ score = 30%, 760+ score = 25%) On an investment property, you are looking at starting off with a down payment of 20-25% depending on if it is an one-unit or two-unit home.
Can anyone qualify for a no closing cost mortgage?
No. Home buyers applying for a conventional mortgage typically need a minimum 740 credit score but, depending on market conditions, those same borrowers may be able to get a no closing costs mortgage with a 700 minimum credit score. 

Borrowers applying for an FHA loan preferably need a 680 credit score to qualify for a no closing cost loan. However, depending on market conditions, FHA borrowers may qualify with a 640 score.

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