Free Jumbo Loan Calculator

Jumbo Loan Calculator

Calculate monthly payments for mortgages above the conforming limit — including 30-yr fixed, 15-yr fixed, and ARM options. See the rate premium vs. a conforming loan and compare standard vs. high-cost area limits.

$766,550
2024 conforming limit
FHFA 2024 limits
6.45%
Avg 30-yr jumbo rate
Bankrate, Mar 2026

Jumbo Loan Calculator

Jumbo Loan Details

Jumbo Loan — $1.200M exceeds the $767K standard conforming limit
Home / Property Price
$
Down Payment$300K (20%)
%
Loan Amount$1,200,000.00
LTV80.0%
Conforming Limit (standard)$766,550.00
Loan Type
Interest Rate jumbo avg: 6.45%
%

Optional — tax & insurance

Property Tax %/yr
%
Insurance /mo
$

Enter your property details and click Calculate

2024 Conforming Loan Limits

Any mortgage above these FHFA-set limits is considered jumbo (non-conforming). Limits vary by county and number of units:

Area Type1-Unit2-Unit3-Unit4-Unit
Standard (most counties)$766,550$981,500$1,186,350$1,474,400
High-cost (CA, NY, HI, DC)$1,149,825$1,472,250$1,779,525$2,211,600
Alaska & Hawaii special$1,149,825$1,472,250$1,779,525$2,211,600

Source: FHFA 2024 Conforming Loan Limit Values. Over 100 high-cost counties have limits between floor and ceiling.

Jumbo Loan Qualification Requirements

Because jumbo loans stay on the lender's books (not sold to Fannie/Freddie), requirements are stricter and vary more between lenders:

RequirementTypical StandardPreferred / Best Rates
Minimum credit score700–720740+
Down payment20% (standard)30%+ (best rates)
DTI ratio38–43%36% or lower
Cash reserves6–12 months PITI12–24 months PITI
Income documentation2 years tax returnsW-2 + bank statements
Appraisal1 appraisal2 appraisals (some lenders)

Fixed Rate vs. ARM: Which Is Better for Jumbo Loans?

ARM loans are more common in the jumbo market because the potential monthly savings are much larger on high loan balances. On a $1.5M jumbo loan at 6.45% vs. a 7/1 ARM at 5.85%:

30-yr Fixed @ 6.45%$9,447/mo P&IPayment certainty for 30 years
7/1 ARM @ 5.85%$8,854/mo P&I$593/mo less for 7 years = $49,812 saved
10/1 ARM @ 6.00%$8,992/mo P&I$455/mo less for 10 years = $54,600 saved

The ARM advantage is compelling if you plan to sell or refinance within the fixed period. The risk: if you keep the loan past the initial period and rates have risen, payments jump significantly.

5 Tips for Getting the Best Jumbo Loan Rate

  • Shop 4–5 lenders — rates vary enormously. Unlike conforming loans, jumbo rates aren't standardized. Banks, credit unions, and private lenders can differ by 0.5–1% for identical borrowers. Always get competing quotes.
  • Max out your credit score. Going from 720 to 760+ can save 0.25–0.5% on a jumbo loan — on a $1.5M loan, that's $312–$625/month.
  • Show maximum assets. Lenders love to see 12–24 months of reserves. If you have investment accounts, make sure they're documented. This can offset a slightly higher DTI.
  • Consider an ARM seriously. If you'll sell within 7–10 years, a 7/1 or 10/1 ARM can save tens of thousands in a lower-rate environment.
  • Consider a "piggyback" loan. Some borrowers split into a conforming first mortgage ($766,550) + HELOC or second mortgage for the remainder — potentially qualifying for lower conforming rates on the larger portion.
FAQ

Jumbo Loan — Common Questions

What is a jumbo loan?
A jumbo loan is a mortgage exceeding the FHFA conforming loan limits — $766,550 standard or $1,149,825 in high-cost areas for 2024. Because they exceed these limits, jumbo loans can't be purchased by Fannie Mae or Freddie Mac. Lenders keep them on their own books, which means stricter underwriting, higher rates, and larger down payment requirements.
What credit score do you need for a jumbo loan?
Most jumbo lenders require 700–720 FICO minimum, with 740+ for the best rates. Some lenders accept 680 with substantial compensating factors: 30%+ down payment, 24+ months of reserves, and low DTI. The higher the loan amount, the stricter the credit requirements typically become.
How much down payment is required for a jumbo loan?
Standard requirement is 20% down to avoid PMI and get competitive rates. Some lenders offer 10–15% down jumbo programs but at higher rates and with stricter requirements. Lenders also typically require 6–24 months of cash reserves (PITI payments) in liquid assets after closing — sometimes $100,000–$500,000 or more for very large loans.
Are jumbo loan rates higher than conforming rates?
Historically yes — typically 0.25–0.5% higher than conforming. However, in some market conditions jumbo rates can actually be lower (when private banks compete aggressively for high-net-worth clients). As of March 2026, the average 30-year jumbo rate (6.45%) is slightly higher than the 30-year conforming rate (6.41%). Always compare both options if you're near the conforming limit.
Should I get a fixed or ARM jumbo loan?
It depends on how long you plan to keep the loan. If staying 7+ years: a 30-year fixed provides payment certainty. If you expect to sell or refinance in 5–10 years: a 5/1, 7/1, or 10/1 ARM offers a lower initial rate and could save $500–$1,000/month on a large jumbo loan — potentially $60,000–$120,000 over 10 years. The risk is if rates rise sharply before you sell. For jumbo loans, ARMs are more common because of the large potential monthly savings.
Can I get a jumbo loan with 10% down?
Some lenders offer jumbo loans with 10–15% down, but typically with: (1) Higher rates (0.25–0.75% above standard jumbo), (2) Additional reserves requirement, (3) Stricter DTI limits (36–38%), (4) Sometimes private mortgage insurance. It's possible but more expensive than 20% down. If you can delay the purchase to save the full 20%, you'll get better terms.

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