Current Jumbo Mortgage Rates
Compare offers to find your lowest jumbo loan rates today.
Jumbo mortgage rate trends in 2025
Jumbo mortgage rates have held steady since the beginning of the year — moving down by only one-tenth of a percentage point between January and August 2025. This stable trajectory is likely to continue, especially since the Federal Reserve has expressed the need to be more cautious with cuts this year than it was in 2024.
Based on current mortgage rate trends, we can probably expect jumbo rates to end the year in the ballpark of 6.5%.
What factors determine my jumbo mortgage loan rate?
Jumbo loan rates are based on a number of factors including your credit score, down payment amount, loan size and location.
Since jumbo loans exist outside of conforming loan requirements, jumbo lenders can set interest rates based on their own qualifications. This means consumers are likely to see more variation in offers and loan programs among jumbo lenders.
Jumbo mortgages are large home loans that exceed conforming loan limits, which are $806,500 in most areas and $1,209,750 in high-cost counties for 2025. These loans are designed for expensive markets or luxury home purchases. Fannie Mae and Freddie Mac, two agencies that provide funding for a majority of mortgage lenders, set the conforming loan limits each year. Jumbo loans are larger, so they’re considered “nonconforming” mortgages, but are still conventional loans.
How to get the best jumbo mortgage rates
You can get the best jumbo loan rates by following these six steps:
Shop around
Gather loan estimates from three to five lenders and compare the loan offers you receive — it may sound simple, but LendingTree data shows that doing so can save you thousands. You can begin with our picks for the best jumbo loan lenders of 2025, which we list below.
Boost your credit score
Although a 700 credit score will typically get you a jumbo loan approval, lenders often offer the best jumbo mortgage rates to borrowers with higher credit scores.
Make a bigger down payment
Unlike conventional loans, you’ll need at least a 10% to 20% down payment to qualify for a jumbo loan. If you have some wiggle room with your down payment, consider paying more upfront to qualify for a lower rate.
Check with your current bank
Banks may offer special rates on jumbo loans to customers they currently work with, especially if they have large deposit balances and investment portfolios.
Check with mortgage banks and mortgage brokers
You may find a mortgage broker or mortgage bank with a special jumbo loan program.
Avoid low-documentation loan options if possible
Jumbo lenders may offer loans with less stringent documentation requirements. The lender may allow you to prove your income with recent bank statements instead of tax returns, for example. This caters to people in uncommon employment scenarios — however, you’re likely to pay a higher interest rate for the extra flexibility.
If you see a notably low jumbo mortgage rate offer, beware: It may come with a penalty if you pay off the loan early. Ask your loan officer if your quoted rate includes a prepayment penalty.
The best jumbo loan lenders of 2025
| Lender | User ratings | Best for | |
|---|---|---|---|
 | (36) Ratings and reviews are from real consumers who have used the lending partner’s services. | Jumbo loans overall | |
 | User reviews coming soon | Higher loan amounts | |
 | (4010) Ratings and reviews are from real consumers who have used the lending partner’s services. | Lower credit scores | |
 | (737) Ratings and reviews are from real consumers who have used the lending partner’s services. | Interest-only jumbo ARMs |
BEST OVERALL JUMBO LENDER: ALLY BANK
- Quick application and closing process
- Rates available online
- Grants available toward down payment or closing costs
- Limited purchase mortgage offerings (no FHA, VA or USDA loans)
- No home equity loans or HELOCs
- No brick-and-mortar locations
Ally is an online-only bank licensed to issue jumbo loans in 46 states. Ally’s website provides generous rate and product information as well as a digital loan application process. The lender also offers a quick online mortgage preapproval — as quick as 15 minutes, according to Ally. Ally’s jumbo loan rates are easy to find on the bank’s website and are more detailed than most.
Ally provides rate quotes for purchase and refinance loans that span across several fixed-rate and adjustable-rate mortgage (ARM) jumbo products. You can also instantly customize those rates by location, credit score and property type, among other factors. And with a maximum loan amount of $4 million, Ally offers generous room for jumbo shoppers to expand beyond conforming loan limits.
You’ll have the best chance of qualifying for a mortgage with Ally if you have a 77% loan-to-value (LTV) ratio or better, according to nationwide data from 2023. That year, about 64% of borrowers had a debt-to-income (DTI) ratio below 40%.
BEST FOR HIGH LOAN AMOUNTS: CHASE BANK
- Low down payment options
- On-time closing guarantee
- Relationship discounts for existing customers
- Doesn’t disclose income or credit requirements
- No USDA loans
- Home loan advisors aren’t available in all states
Chase is the largest bank in the country and has a wide range of jumbo offerings. Loan options include both fixed-rate and adjustable-rate loans, as well as an interest-only ARM. However, where Chase truly shines is with its jumbo loan limit of $9.5 million — by far the highest of the lenders we evaluated. If you’re an existing Chase banking customer, you may also be eligible to receive a 0.50% rate discount on a jumbo loan.
You’ll have the best chance of qualifying for a mortgage with Chase if you have a 71% loan-to-value (LTV) ratio or better, according to nationwide data from 2023. That year, 54% of borrowers had a debt-to-income (DTI) ratio below 40%.
BEST FOR LOW-CREDIT JUMBO LOANS: VETERANS UNITED
- Specializes in VA loans
- 24/7 customer service
- Offers mortgages in all 50 states
- Doesn’t offer home equity loans or HELOCs
- Branches in only 17 states
- Doesn’t disclose all minimum requirements
Veterans United specializes in purchase and refinance loans for military borrowers. Their minimum 620 credit score for a jumbo loan was the lowest among the jumbo lenders we surveyed, and came in at an impressive 60 points lower than the average score required across those lenders. However, you must have a qualifying military service history to qualify.
You’ll have the best chance of qualifying for a mortgage with Veterans United if you have a 73% loan-to-value (LTV) ratio or better, according to nationwide data from 2023. That year, about 32% of borrowers had a debt-to-income (DTI) ratio above 43%.
BEST FOR INTEREST-ONLY JUMBO ARMS: SEBONIC FINANCIAL
- Offers a variety of conventional and government-backed loan programs
- Low credit score minimum
- Competitive rates
- Conventional mortgages require a 5% down payment
- Doesn’t disclose its rates or fees online
- Must provide personal information to receive loan details
Sebonic Financial is a small direct mortgage lender based in Charlotte, N.C. Sebonic is one of a handful of lenders that offer interest-only adjustable-rate mortgages (ARMs), and their proprietary digital mortgage lending platform allows them to process loans quickly. They also make it easy to apply, sign and submit your documents online.
You’ll have the best chance of qualifying for a mortgage with Sebonic if you have an 87% loan-to-value (LTV) ratio or better, according to nationwide data from 2023. That year, about 33% of borrowers had a debt-to-income (DTI) ratio below 40%.
Learn more about how we created our list of the best jumbo loan lenders.
Most jumbo loans are “manually underwritten.” A human underwriter does most of the review, instead of the automated underwriting systems that are typically used for conforming loans. This makes the process a little bit slower, but also allows for borrowers to qualify even if they have unusual or complicated circumstances that an automated system would flag.
Are jumbo loan rates higher than conventional rates?
Right now, jumbo rates are higher than conforming conventional mortgage rates. Historically, this is common. However, during periods of strong economic and housing growth, investors tend to feel more confident in bonds secured by jumbo loans. This can drive down jumbo rates, making them the more affordable option.
A conventional loan is any loan that isn’t backed or insured by a government agency.A jumbo loan is a type of conventional loan that exceeds conforming loan limits, and is typically much harder to qualify for than conforming conventional loans. Most, but not all, jumbo loans are conventional loans.
Learn more with our guide to jumbo versus conventional loans.
How to qualify for a jumbo loan
Lenders typically set stricter requirements for jumbo loans than for conventional loans, which may include:
| Jumbo loans | Conventional loans | |
|---|---|---|
| Down payment | 20% | 3% |
| Credit score | 700 | 620 |
| Debt-to-income (DTI) ratio | 45% | 45% |
| Maximum loan amount | $1 million to $2 million | Conforming loan limits |
| Cash reserves | Typically six to 24 months, depending on the lender | Zero to six months |
Jumbo loans don’t adhere to rules set by a government agency, so some lenders offer niche jumbo programs like:
- Loans requiring minimal income documentation
- Loans with interest-only payments
- Loans for wealthy customers with complex finances, such as doctors or self-employed borrowers
The requirements for these programs vary by lender. Just be aware that these loans often carry higher interest rates to offset the risk of lending to borrowers with unusual circumstances.
Types of jumbo loans
Jumbo loans can be very similar to traditional 30-year fixed-rate mortgages — just bigger. However, because jumbo loan lenders set their own terms, they can offer more unique loan options.
Many jumbo lenders offer adjustable-rate mortgage (ARM) options with a lower fixed rate that usually lasts for three, five, seven or 10 years. After the initial fixed-rate period ends, ARM rates change (“adjust”) based on your loan terms.
Some jumbo lenders offer an interest-only option for jumbo loans. You’ll start off with low payments, as you’ll only be paying interest charges without touching your principal balance. But once the interest-only period ends, you’ll pay the outstanding balance in installments for the remaining loan term. This could be a shock to your budget if you’re carrying a large balance before the principal and interest payments begin.
Military borrowers with full VA loan entitlement can qualify for a loan amount that exceeds conforming loan limits. VA jumbo loans are still subject to the VA’s underwriting guidelines, however.
Some people may refer to FHA loans that exceed FHA loan limits as “FHA jumbo loans.” However, they aren’t actually jumbo loans — they’re just loans that have a higher loan limit because they’re tied to a high-cost area. FHA loans can’t exceed the loan limit set for their county.
Alternatives to jumbo loans
Piggyback loan
Using a piggyback loan means taking out two loans at the same time, both secured by the home you’re purchasing. To avoid a jumbo loan, you can take out a first mortgage up to the local conforming loan limit, and then add (“piggyback”) a second mortgage for the additional amount you’ll need to borrow. It’s common to choose a home equity loan or HELOC for the second mortgage.
- Advantage: You can avoid the higher interest rates and larger minimum down payment associated with a jumbo loan.
- Disadvantage: Having more than one mortgage at a time — also known as utilizing “subordinate financing” — can trigger higher interest rates or extra fees. You’ll have to do the math on both scenarios to determine which option is right for you.
See current home equity rates today.
Bridge loan
Putting profits from a home sale toward a big down payment is smart, but it also means you’ll have to wait for your current home to sell before buying a new one. However, if you use a bridge loan, you can access equity in your current home while it’s still on the market and pay off the bridge loan once it sells.
- Advantage: The cash from a bridge loan can beef up your down payment, keeping the mortgage on your new home at or below conforming loan limits.
- Disadvantage: You’ll have to pay closing costs twice — once on the bridge loan and again on your new mortgage.
Learn more about getting a bridge loan.
Frequently asked questions
The amount of money that makes a loan “jumbo” varies depending on where you’re buying a home. In most U.S. counties, a loan amount above $806,500 for a single-family home requires a jumbo loan. In high-cost areas, that amount rises to $1,209,750.
Historically, less than 10% of mortgages are jumbo loans, according to data from the Federal Reserve Bank of New York, though this fluctuates depending on current market conditions.
No, you don’t always need to put down 20% when taking out a jumbo loan. For instance, you only need a 10% down payment on a jumbo loan with Rocket Mortgage. Some lenders require more, some less — it’s up to each individual lender.
You should consider a jumbo mortgage if you’re buying an expensive home and need a loan amount that exceeds the conforming loan limits in your area.
Yes. Jumbo refinance loans work much like conforming conventional refinances, but they set stricter limits for income, credit history and credit scores. One tip: Conforming loan limits change every year, and often go up. If they rise high enough to meet your needs, you can avoid the tougher jumbo approval standards by refinancing into a conventional loan.
A jumbo loan allows you to borrow more money than conventional loan programs allow. Even if you have the cash for a home, a jumbo loan can help keep some of your cash in the bank and potentially increase your mortgage interest tax write-off. One caveat: The mortgage interest deduction is capped at $750,000 for individuals and married couples filing jointly, but drops to $375,000 for married couples filing taxes separately.
How we chose our picks for the best jumbo lenders
To determine the best jumbo loan lenders, we reviewed data collected from more than 30 lender reviews completed by the LendingTree editorial staff for 2024.
Each lender review gives a rating between zero and five stars based on several features including digital application processes, available loan products and the accessibility of product and lending information. To evaluate jumbo-specific factors, we awarded extra points to lenders that publish jumbo mortgage rates online and offer both fixed- and adjustable-rate jumbo loans.
Our editorial team brought together all of the data about lenders in our reviews, as well as the scores awarded for jumbo-specific characteristics, to find the lenders with a product mix, information base and guidelines that best serve the needs of jumbo loan borrowers. To be considered for our “best overall” pick, lenders must be licensed to issue mortgages in at least 35 states.