Why Choose a Jumbo Loan?
Larger Loan Amounts
Loans up to $2.5M
A jumbo loan allows you to borrow more than conventional loan limits, making it ideal for purchasing luxury homes or properties in high-cost areas without compromise.
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Big Dreams? Jumbo Loans
Loan Amounts up to $2.5 million
For properties that go beyond conventional limits.
For Big or Expensive Markets
For California Dreamers and Boston Celtics
Flexible Mortgage Options
Competitive rates for qualified buyers.
Jumbo Loan Guidelines
To apply for a jumbo loan, you’ll need to meet specific criteria. Here are the key requirements:
Credit Score
A minimum credit score of 680 or higher is required to qualify for Jumbo loans.
Primary Residence
Allowed for primary, vacation, and investment homes, with varying requirements.
Debt-to-Income Ratio
Less than 45% of your monthly income should go toward debt payments.
Income
Borrowers must show stable, high income with tax returns, pay stubs, or business records.
Seller Credits
Some lenders allow seller credits for closing costs, but restrictions may apply.
Down Payment
Jumbo loans require a minimum down payment of 20% or more.
No Mortgage Insurance
Private mortgage insurance is not required, but a larger down payment is needed.
Loan Limits
We offer jumbo loans up to $2.5 million in all states we are licensed in
Zero PMI, forever and always.
No Mortgage Insurance
Since Jumbo loans are not conventional loans. PMI does not apply. Access larger loan amounts to buy your first home or your third.
Smart Rates
Control Your Rate
Choose between fixed-rate and adjustable-rate mortgage options to fit your long-term financial strategy and budget. Buy mortgage rates on sale with smart rate options
White Glove Service
Buy Stress-free
Get expert advice from contract-to-close. Close in as little as 14 days with a dedicated loan officer, underwriter and closing team.
How It Works
Pre-Qualification
✔ Submit basic financial details to see how much you qualify for.
✔ Get an estimate of loan options tailored to your needs.
Loan Application
✔ Provide necessary documents like income statements, tax returns, and credit history.
✔ Choose the best loan terms for your situation.
Loan Approval and Rate Lock
✔ The lender verifies your financial background and property details.
✔ If approved, you'll receive a loan commitment outlining your terms.
Close the Deal
✔ Pay closing costs (typically 3–6% of the loan amount).
✔ Sign final documents and receive your funding!
Do's & Don'ts
Do
Maintain a Strong Credit Score
A higher credit score (680–720) improves your chances of approval and better loan terms.
Keep Your DTI Ratio Low
Ensure your total monthly debt payments stay below 45% to meet lender requirements.
Save for a Larger Down Payment
Having at least 10–20% down can make your loan approval smoother.
Don't
Ignore Interest Rate Differences
Jumbo loans may have slightly higher rates, so compare offers before committing.
Forget About Property Appraisals
Lenders always require a professional appraisal to confirm and justify the home's value.
All Lenders Offer the Same Terms
Jumbo loan requirements vary, so shop around for the best options.
Netflix Worthy?
If your home deserves to be on Selling Sunset, it needs a Jumbo loan.
Jumbo Loan
Conventional Loan
FHA Loan
Loan Limit
$2.5M
$806,500
$524,255
Credit Score
700+
620+
580+
Down Payment
20%
As low as 3%
3.5%
Property Type
Primary, vacation, and investment
Primary, second and investment
Primary residence only
DTI
Max 43%
50%
57%
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Every home has a story
They sourced our Bitcoin movements for the down payment
Sukesh and Altgage were the only lenders who understood bitcoin and tracked it from mainstream exchanges and niche wallets to source our down payment funds. We have 6 properties, 3 businesses and diversified assets. They understand money like no one in the money business. We recommend them to every crypto enthusiast out there.
5-Star Review
Better rates and service than Chase's Private Clients
Sukesh was very attentive and went above and beyond to get me a great interest rate, that was more than half a percent lower than the interest rate Chase offered despite me being a preferred client with a ton of money parked there. Every time we upgrade to a bigger and better home, we know whom to call.
5-Star Review
4.75% interest rate with a Piggyback and 10% Down
We reconnected with Sukesh on LinkedIn and his deep domain knowledge helped us come up with a creative mortgage solution. A combination of a standard 30 year mortgage plus a HELOC allowed us to buy our house with a minimal down payment. Sukesh was able to come up with the plan and execute it in a way that brought our overall interest rate below the national average - despite only paying 10% down!
Throughout the process Sukesh was a great advocate for ensuring we were not gouged by fees from third parties. On multiple occasions he was able to negotiate the fees down for us.
5-Star Review
“Casey financed her retirement home, helped her son and several friends buy their dream home with market low rates”
After a lifetime in real-estate, Casey built her dream home in Horseshoe Bay. As with every construction, homes takes longer and cost more than expected. Altgage was able to boost Casey's credit by over a 100 points and provide financing just when it was needed to the most to bring her dream home to life.
After being impressed with Altgage's rates, credit boost, and 15 day closings, Casey introduced several family, friends and clients to get great deals on home ownership.
5-Star Review
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Frequently asked questions
You’ve got questions, we’ve got answers
Jumbo loans typically have slightly higher interest rates due to the increased risk for lenders. However, Altgage ensures you get competitive rates tailored to your needs.
Absolutely! You can refinance a jumbo loan to secure a lower interest rate, reduce your monthly payments, or switch to a different loan term. Refinancing also allows you to tap into your home’s equity for major expenses like home renovations, debt consolidation, or investment opportunities.
The main difference is the loan amount. Jumbo loans cover larger amounts than conventional loans, which are capped by conforming loan limits set by the FHFA.
Jumbo loans typically take 15 to 30 days to close due to the stricter underwriting process. Having all your financial documents ready can help speed up the process.
