The Jumbo Loan Program

The Jumbo loan is generally geared towards financing more expensive properties and homes. If the primary residence, second home, or investment property you are looking to buy is higher than a conforming mortgage will permit, the Jumbo loan might be just right for you.

Find a Loan Officer

Highlights & Benefits

Down Payment

As low as 5% of the home sales price

Higher Loan Amounts

Up to $3,000,000 or higher depending on your specific scenario for most single family homes

Required Reserves

Typically between 6 and 12 months reserve required

Debt-to-income Ratio

Maximum 43%

Purchase Or Limited Cash-out Refinance

For a primary residence or second home

More About The Jumbo Loan Program,

A jumbo loan, also known as a non-conforming mortgage, is a type of financing that exceeds the limits set by the Federal Housing Finance Agency (FHFA). It’s classified as a non-conforming mortgage which means that it’s not eligible to be purchased or securitized by Fannie Mae or Freddie Mac.

To qualify for a Jumbo loan, you’ll need a good credit score and a lower debt-to-income ratio. You may also need enough cash reserves or assets to cover about 6-12 months’ worth of your mortgage payments.

Jumbo Loan Options

  • Conventional

    Conventional loans may be ideal for those borrowers that have good credit, a low debt-to-income (DTI) ratio and can typically make a down payment of 20% of the loan amount. There are options though for those that need or want to make a lower down payment.

  • VA

    Veteran’s Administration or “VA” loans are available for active, non-active and retired Army, Air Force, Marine, Navy, National Guard, and Coast Guard veterans (or their eligible surviving spouses) who meet the established service requirements.

  • FHA

    The FHA program may be a great option if your homebuying needs and situation preclude you from qualifying for a conventional loan. This specific loan option is designed for those who want to buy a home but may not qualify through conventional loan programs.

  • Fixed-Rate AND Adjustable Rate Mortgages (ARM)

    Fixed-Rate: The loan has a fixed interest rate for the entire life of the loan. ARM: The loan has an interest rate applied to the outstanding balance that varies throughout the life of the loan.

Atlantic Coast Mortgage, LLC is not affiliated with or acting on behalf of or at the direction of FHA, VA, USDA, the Federal or State Government.

The simple interest rate can change after the initial fixed period, and more than one simple annual rate may apply over the term of the loan. At adjustment(s) an ARM’s rate is calculated by adding the associated market index to the loan program margin. Consult your loan officer for details on ARM offerings for your specific financial situation.

This is an advertisement and is not a commitment to lend. Contact lender to discuss the loan programs, payment and term options available specifically for you and your needs.

Looking for another type of loan?

Learn more about what financing options we have available

Start Your Loan Application

Start My Application

Calculate Mortgage & Payments

View Mortgage Calculator