All loan programs
Quick answer
- Who it may fit
- Buyers in higher price bands or high-cost counties
- Down payment
- Cash to close depends on the program, the property and your file — we quote your scenario before you apply.
- Main benefit
- Access to loan sizes the agency channel cannot support
- Main tradeoff
- Credit, reserve and documentation expectations are typically stricter
A jumbo loan exceeds the conforming loan limit for the county, so it is held or securitized outside the agency channels. Guidelines are set by the individual investor, which means two lenders can look at the same file very differently. Shopping matters more here than almost anywhere else.
- Buyers in higher price bands or high-cost counties
- Borrowers with equity compensation, bonus income or partnership distributions
- Self-employed borrowers with strong but non-standard income documentation
- Access to loan sizes the agency channel cannot support
- Portfolio lenders may take a more holistic view of assets and income
- Fixed and adjustable structures are both commonly available
- Credit, reserve and documentation expectations are typically stricter
- Appraisal requirements can be more involved on unique or high-value properties
- Pricing varies widely between investors, so a single quote tells you little
These are the factors an underwriter typically reviews. They are not a checklist of requirements, and meeting them does not guarantee eligibility or approval.
- Strong credit profile under the specific investor's guidelines
- Documentable income, often with additional reserve requirements
- Debt-to-income within the investor's limits
- An acceptable property and appraisal, sometimes with a second valuation
All loans are subject to credit, income, property and underwriting approval. Nothing on this page is a loan offer, an approval, a rate lock or a commitment to lend. Programs, rates and terms are subject to change without notice.