Jumbo loans are loans with a balance that exceed the current conforming loan limit of $453,100.* As with conforming Conventional Loans – fixed and adjustable interest rate options are both available.
With loan amounts up to $2 million, a buyer can retain liquid assets in their own portfolio rather than using the funds to stay under the conforming limit. Jumbo loans are available for purchasing or refinancing primary residences, second or vacation homes and investment properties.
*$453,100 is the limit for conventional conforming loans for single family residences- except Hawaii and Alaska, where it is $625,500