Looking to buy or refinance a high-value home? Jumbo loans are designed for properties that exceed conventional loan limits, giving you access to larger amounts with competitive rates. At LUMI Funding Group, we’ll guide you through the process and help you find a jumbo home loan that fits your financial goals.
A jumbo loan is a mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. These loans are used to finance high-value properties and typically apply to homes that cost more than $766,550 in most areas. Jumbo loans offer flexible terms and competitive options for qualified buyers.
If you’re purchasing a luxury home or buying in a high-cost market, a jumbo loan may be the best fit. These loans are ideal for borrowers who need to borrow more than the standard loan limit allows. Jumbo loans are common in areas like California, where home prices often exceed conforming limits.
Jumbo loans have stricter qualification guidelines compared to standard loans. Most lenders require a higher credit score (typically 700+), a low debt-to-income ratio, and significant reserves or assets. A larger down payment is usually needed, but some programs offer flexible options depending on your profile.
Not necessarily. While jumbo loans once had higher interest rates, many lenders now offer rates that are similar to or even lower than conforming loans — especially for highly qualified buyers. Your rate will depend on your credit, income, down payment, and overall financial profile.
Yes, jumbo loans are available for refinancing as well. Whether you’re looking to lower your rate, adjust your loan term, or pull equity from your home, jumbo refinance options can help. We’ll review your goals and help you decide if a jumbo refinance is the right move.
No — jumbo loans can be used for primary residences, second homes, and investment properties. Whether you’re buying a luxury home to live in or adding a high-value rental to your portfolio, we’ll help you explore jumbo loan options tailored to your plans.
Jumbo loans are best suited for financially strong buyers looking to purchase high-value properties that exceed standard loan limits. Because these loans are not backed by a government agency, lenders take on more risk — which means stricter qualification standards and more detailed financial review.
A jumbo mortgage may be a good fit if:
You have strong credit, stable income, and significant assets
You’re buying a home that exceeds the conforming loan limits in your area
You want to avoid a larger down payment than necessary on a high-priced property
You’re comfortable with a long-term financial commitment and a higher loan amount
Jumbo loans can offer competitive rates, flexible terms, and financing options that match your goals — but they require careful planning. Our team will walk you through your options and help you determine whether a jumbo loan is the right choice for your situation.
Jumbo loans work differently than standard mortgages — and if you’re financing a high-value property, it’s important to understand the details. Below are answers to the most common questions about jumbo loan limits, requirements, rates, and whether this type of financing is right for your goals.
As of 2025, the conforming loan limit in most parts of California is $766,550. Any loan amount above that is considered a jumbo loan. In high-cost counties like Los Angeles, Orange, or Santa Clara, the limit is higher, and jumbo loans apply above those localized caps.
While traditional jumbo loans often required 20% down or more, many lenders now offer jumbo loan programs with down payments as low as 10%. Your credit, income, and assets will influence the exact requirement. We’ll help you find the best-fit option.
Typically, PMI is not required on jumbo loans, even with less than 20% down. However, because jumbo loans are not government-backed, lenders may have stricter internal guidelines. We’ll help you understand any risk-based pricing and whether your scenario qualifies for a no-PMI option.
Yes, but documentation is key. Self-employed buyers may need to provide two years of tax returns, bank statements, and proof of consistent income. Some lenders offer jumbo loans with alternative documentation, including bank statement loan options for high-net-worth individuals.
Jumbo loans can come in many forms — fixed-rate, adjustable-rate, or even interest-only in some cases. The right structure depends on your financial goals and long-term plans. We’ll help you choose a jumbo loan that fits your budget and timeline.
Jumbo loans may take slightly longer to process due to the larger loan amount and stricter underwriting. Most close within 30 to 45 days, depending on how quickly documentation is provided. We keep the process moving efficiently to help avoid delays.
Jumbo loans are best suited for financially strong buyers looking to purchase high-value properties that exceed standard loan limits. Because these loans are not backed by a government agency, lenders take on more risk — which means stricter qualification standards and more detailed financial review.
A jumbo mortgage may be a good fit if:
You have strong credit, stable income, and significant assets
You’re buying a home that exceeds the conforming loan limits in your area
You want to avoid a larger down payment than necessary on a high-priced property
You’re comfortable with a long-term financial commitment and a higher loan amount
Jumbo loans can offer competitive rates, flexible terms, and financing options that match your goals — but they require careful planning. Our team will walk you through your options and help you determine whether a jumbo loan is the right choice for your situation.
