Above the limit
Jumbo Loans
Financing for homes priced above conforming loan limits, with underwriting handled personally.
How Jumbo loans work
A jumbo loan is simply a mortgage larger than the conforming limit set for the county, which means it cannot be sold to Fannie Mae or Freddie Mac. The lender either keeps it or sells it elsewhere, and that changes how the loan is underwritten, generally with more scrutiny on reserves, income documentation and credit.
Because jumbo loans sit outside the standard secondary market, pricing and guidelines vary far more between lenders than they do on conforming loans. Two lenders can look at the same borrower and reach materially different conclusions. That variance is precisely why shopping a jumbo loan across multiple lenders is worth doing.
This is also where complex income gets interesting. Business owners, borrowers with substantial bonus or equity compensation, and anyone whose tax returns require explanation will find that lenders differ enormously in how they treat that income.
Common around HarrisburgCharlotteFort Mill
FAQ
Jumbo questions
What makes a loan jumbo?
A loan amount above the conforming limit for the county where the property sits. Those limits are adjusted periodically, so a loan that was jumbo one year may not be the next.
Do jumbo loans require a much larger down payment?
Requirements are typically higher than conforming loans, but they vary significantly between lenders. This is one of the areas where shopping the loan makes the largest practical difference.
I am self-employed. Does that complicate a jumbo loan?
It requires more documentation, but it is routine. The key is finding a lender whose underwriting treats your income structure sensibly, and that is a matter of knowing which lenders those are.
Other programs worth a look
- Conventional Loans Competitive rates, flexible terms and low monthly payments for buyers with good credit and steady income.
- FHA Loans Government-backed financing built for buyers with limited savings or a shorter credit history.
- VA Loans Financing for veterans, active-duty service members and eligible surviving spouses.
- USDA Loans Zero-down financing for eligible homes in rural and many suburban areas across the Carolinas.
- DSCR Loans Investment property financing that qualifies on the rental income the property produces, not on your personal tax returns.
- First-Time Buyer Programs Low down payment loans, grants and flexible approval paths for buyers purchasing their first home.
Let's find out what you qualify for.
Start with a conversation. If it makes sense to go further, we will, and if it does not, you will know that too.