Jumbo Loans Up to $5 Million

Any loan bigger than the conforming limit for your county. For 2026, that limit is $832,750 for a one-unit home in most of the country and up to $1,249,125 in high-cost areas (FHFA). It is the loan amount that matters, not the price. A $1 million home with 20% down is an $800,000 loan, which is under the limit in most counties, so it isn't a jumbo at all. The same home with 10% down is a $900,000 loan and is. I check your county's limit before we look at programs, because sometimes a slightly bigger down payment keeps you in conforming territory.

Yes. Across the programs I can access, 10% down is the minimum on a jumbo loan, and it is available on both the traditional and the bank statement versions. Your credit score and loan size decide whether a program lets you go that low, and some programs ask for more down at lower scores or bigger amounts. If a single loan wants more than you want to put down, an 80/10/10 splits the financing into a first and second mortgage so you can still put 10% down. Either way, you will also need reserves after closing, so the cash you need is more than the down payment alone.

On the programs I can access, jumbo loans start at a 660 credit score. A higher score does more than get you approved. It usually opens better pricing and lower down payment options, so a 740 and a 680 can get very different offers on the same home. If you are close to a pricing break, a few weeks of paying down credit cards can be worth real money, and I will tell you if that is the case before you apply. Late payments in the last year or two matter more than the score itself, so tell me about anything like that up front.

Typically 3 to 6 months on the programs I use, and sometimes more on the largest loans. Reserves are counted in months of your full new payment, including taxes, insurance and any association dues, and the money has to be left over after your down payment and closing costs. Checking and savings count. Retirement and brokerage accounts can often count too, sometimes at a reduced value. The mistake I see is buyers adding up their down payment and forgetting reserves, then finding out late that they are short. I add it all up for you at the start.

Yes. If your tax returns show enough income, a traditional jumbo is usually the cheaper route, and I always check that first. If your write-offs make your returns look small, a bank statement jumbo qualifies you on 12 months of personal or business bank statements instead. Business deposits are usually counted after an expense factor, often 50%, and personal account deposits can sometimes count in full. It's a non-QM (non-traditional) loan, so the rate typically runs 1% to 2% higher than a traditional loan. For a lot of owners that trade is worth it, because their write-offs save them more in taxes than the rate costs.

Across the jumbo programs I can access, up to $5 million. Above that, Super Jumbo programs take select loans higher, and the rules get tighter: more reserves, stronger credit and sometimes more down. The bigger the loan, the more the lender looks at your total financial picture, not just your income. If you are shopping in the $3 million to $5 million range, plan on a longer conversation about assets and reserves up front, and I will tell you early which programs fit.

Not always. In my experience, a traditional jumbo for a strong borrower can price close to a conforming loan, and sometimes better, because lenders compete for these clients. The bank statement version is different: it typically runs 1% to 2% higher than a traditional loan because of the added risk. Your credit score, down payment and the loan size all move the price. I compare the programs side by side for your file instead of quoting a national average that may not apply to you.

Yes. Plenty of jumbo buyers refinance when rates drop, or move from a bank statement jumbo to a traditional jumbo once their tax returns catch up with the business. I look at the cost of refinancing against what you'd save and tell you straight whether it's worth it. If your loan has a prepayment penalty, we review that before you lock, so there are no surprises later.