Jumbo Mortgage Calculator

Size relative to the conforming limit. Each year the FHFA sets the largest loan Fannie Mae and Freddie Mac will purchase, and anything above it is jumbo.

The limit is higher in expensive housing markets, so the same loan amount might be conforming in one county and jumbo in another. Nothing about the loan structure changes; only the dollar threshold defines the category.

Not always. Because the lender keeps the loan rather than selling it, jumbo rates historically ran higher, but strong competition for well-qualified borrowers has narrowed that gap and occasionally reversed it. Your rate depends heavily on credit, down payment, and reserves.

A borrower with excellent finances may secure a jumbo rate close to or even below a comparable conforming quote.

Risk. A large loan that cannot be sold to Fannie or Freddie stays on the lender's books, so they want proof you can keep paying through a job loss or income gap.

Reserves — months of mortgage payments held in accessible accounts — show that cushion. Expect lenders to ask for more reserves, a lower debt-to-income ratio, and a heavier down payment than a conforming loan requires.

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A jumbo loan exceeds the conforming limit for your county — $832,750 in most of the U.S. for 2026, and up to $1,249,125 in high-cost areas. Because Fannie Mae and Freddie Mac cannot buy it, lenders set their own, usually stricter, terms.

Not necessarily — jumbo rates are often competitive with, and sometimes below, conforming rates. The bigger difference is qualifying: jumbos usually want a larger down payment, stronger credit and several months of cash reserves.