Jumbo Loan or Non-Conforming Home Loan

A loan for bigger ideas.

Got your eye on a higher-priced home? A jumbo (or nonconforming) loan might be an option if you’re considering a loan of $453,100 or more. (Loans of $453,099 or less are known in the business as conforming loans. Conforming loan limits may be higher in designated high-cost areas. Ask for details.)

Jumbo loan programs allow for some flexibility and include both fixed-rate and adjustable-rate plans.

 

Pros:
  • Jumbo loans offer affordable terms for higher-priced homes.
  • They are ideal for high-income earners with good credit.
  • Low-down-payment options are available.

 

Cons:
  • Interest rates are higher.
  • Qualification standards may be tougher.

 

Interested in this loan?