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Residential Mortgage
Jumbo Mortgages
Financing for high-value properties that exceed conforming loan limits. Ideal for luxury homes and high-cost real estate markets in Southern California.
Is This Loan Right for You?
A jumbo mortgage is right for you if you need to borrow more than the conforming loan limit of $806,500 in most areas, as set by the FHFA, to purchase a luxury or high-value property. You will need strong credit of 700 or higher, a larger down payment of at least 20%, and significant cash reserves of 6 to 12 months of payments. Jumbo loans are available in both fixed-rate and adjustable-rate terms of 15 or 30 years, with no private mortgage insurance required even at 80% LTV. In high-cost areas like parts of Los Angeles County, the conforming limit rises to $1,209,750 before jumbo kicks in. Unlike conforming conventional loans backed by Fannie Mae or Freddie Mac, jumbo loans follow individual investor underwriting guidelines with stricter documentation requirements. Choose a jumbo mortgage if you are a well-qualified borrower purchasing in Southern California's luxury market where property values routinely exceed conforming limits.
Side-by-Side
Jumbo vs Conforming vs FHA
Jumbo loans finance luxury properties above conforming limits with no mortgage insurance required.
| Feature | Jumbo | Conventional Conforming | FHA |
|---|---|---|---|
| Loan Limit | Above $806,500 (no cap) | Up to $806,500 | $498,257-$1,209,750 |
| Credit Score | 700+ | 620+ | 580+ |
| Down Payment | 20%+ | 3-20% | 3.5% |
| Mortgage Insurance | None required | PMI if <20% down (removable) | MIP for life of loan |
| Debt-to-Income | 43% | 45% | Up to 50% |
| Reserve Requirements | 6-12 months | 0-2 months | None |
| Rate Premium | Competitive for strong profiles | Lowest available | Slightly above conventional |
Buying a $1M+ Home in California? Don't Make This Mistake (Jumbo Loans)
Requirements
What Are the Jumbo Requirements?
Min Credit Score
700+
Min Down Payment
20%
Max LTV
80%
Max DTI
43%
Loan Limits
Starts above $806,500 (exceeds FHFA conforming limit; $1,209,750 in high-cost areas); no upper cap
PMI / MIP
No PMI required
Occupancy
Primary, secondary, or investment property
Features
Key Features
- Loan amounts exceeding conforming limits
- Available in 15 or 30-year fixed and adjustable terms
- Competitive rates for well-qualified borrowers
- No mortgage insurance required
- Suitable for primary residences, second homes, and investment properties
Process
How It Works
1
Pre-Qualification
We conduct a thorough review of your credit profile, income sources, assets, and cash reserves to determine your jumbo loan eligibility and optimal program.
2
Application & Documentation
Submit comprehensive income documentation including two years of tax returns, W-2s, and bank statements. We lock your rate and order the appraisal (often two appraisals for higher amounts).
3
Underwriting & Approval
Jumbo underwriting involves manual review of all financials, reserve verification, and detailed appraisal review. Expect thorough documentation requests.
4
Closing & Funding
Complete final document signing, wire your substantial down payment, and close on your high-value property.
Estimate Your Payment
20%
Results
Principal & Interest$2,128.97
Property Tax$416.67
Insurance$150
Total Monthly Payment$2,695.64
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Rates, terms, and availability of programs are subject to change without notice.
Pros & Cons
What Are the Pros and Cons of Jumbo?
Advantages
- Finance luxury and high-value properties above conforming limits
- No mortgage insurance required, even at 80% LTV
- Competitive rates available for well-qualified borrowers
- Multiple property types eligible including second homes and investments
Considerations
- Higher credit score requirements (typically 700+)
- Larger down payment required (usually 20% or more)
- More extensive documentation and reserve requirements
FAQ
Frequently Asked Questions
A jumbo loan exceeds the conforming loan limits set by the FHFA. In 2026, that means any loan above $806,500 in most areas or above $1,209,750 in designated high-cost areas like parts of Los Angeles County.
Not necessarily. For well-qualified borrowers with excellent credit and substantial assets, jumbo rates can be very competitive with or even lower than conforming rates. The spread depends on market conditions.
Most jumbo loans require at least 20% down. Some programs allow as little as 10-15% down for primary residences, but these may come with higher rates. The more you put down, the better your rate options.
Lenders typically require 6-12 months of mortgage payments in liquid reserves after closing. For loan amounts over $1.5 million, 12-18 months of reserves may be required.
Yes. Jumbo loans are available for investment properties, though they typically require 25-30% down and have slightly higher rates compared to primary residence jumbo loans.
Local Expertise
Getting a Jumbo Loan in the San Gabriel Valley
NetCORE Lending™ is headquartered in Diamond Bar and has been helping borrowers across the San Gabriel Valley secure jumbo financing since 2015. We serve homebuyers and homeowners in Pomona, Walnut, Rowland Heights, West Covina, Chino Hills, Covina, La Verne, Glendora, San Dimas, Hacienda Heights, and City of Industry — as well as borrowers throughout California.
As a local mortgage broker, we understand the San Gabriel Valley real estate market — from the higher-value properties in Chino Hills and Diamond Bar to the more affordable options in Pomona and West Covina. Our team provides bilingual service in English and Vietnamese and shops 100+ wholesale lenders to find you the lowest available rate on your jumbo loan.
Call (714) 399-6361 to discuss jumbo options with a local loan advisor, or get pre-qualified online in 2 minutes.
Related
Also Consider
Explore other loan products that might be a good fit for your needs.
Conventional
A traditional mortgage not insured by the federal government. Ideal for borrowers with strong credit and stable income who want competitive rates and flexible terms.
Fixed-Rate
Lock in a consistent interest rate and monthly payment for the entire life of your loan. Available in 15 or 30-year terms, providing long-term payment stability.
Refinance
Replace your existing mortgage with a new loan to lower your rate, reduce monthly payments, shorten your term, or access your home equity through cash-out refinancing.
Ready to Get Started?
Apply online in minutes or call us to speak with a loan advisor about your Jumbo options.
Official Sources
This information is not intended to be an indication of loan qualification, loan approval or commitment to lend. Rates, terms, and availability of programs are subject to change without notice.
Reviewed by Joann Ton, Loan Officer (NMLS# 1461031) | Last updated: June 2026