What's the conforming loan limit for 2026?

$832,750 in most U.S. counties. High-cost areas like Los Angeles and the Bay Area have a ceiling of $1,249,125. Anything above your county's limit is a jumbo loan.

Are jumbo rates higher than conforming rates?

Not necessarily. In recent years jumbo rates have often been at or below conforming rates because lenders compete aggressively for high-net-worth borrowers.

Can I get a jumbo loan with 10% down?

Yes, several jumbo programs allow 10% down for strong borrowers. Expect a higher rate or PMI requirement compared to 20% down.

Do I need to be wealthy to qualify for a jumbo loan?

You need strong income, good credit, and meaningful cash reserves — typically 6 to 12 months of payments after closing. The exact thresholds depend on the loan amount.

conventional loan

Jumbo Loans

Jumbo loans finance home purchases above the annual conforming loan limit set by the FHFA. They require stronger credit and reserves but offer competitive pricing on luxury and high-cost area properties.

Down payment: 10%–20% depending on loan size and credit profile
Credit score: 700 typical; 740+ for best pricing
Loan amount: Up to $3M+ depending on lender and program
MI: Often avoided by structuring with 20% down or piggyback second loan; some jumbo programs offer PMI

Best for

Buyers in high-cost markets like Los Angeles, Bay Area, NYC, and Boston
Borrowers with strong income, credit, and liquid reserves
Move-up buyers stepping into luxury or estate-sized properties
Borrowers refinancing high-balance mortgages

Eligibility

Credit score typically 700+ (some programs accept 680)
DTI usually capped at 43%, sometimes 45%
6–12 months of cash reserves after closing
Two appraisals required on loans above certain thresholds
Two years of stable employment with documented income

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The upside

Finance properties beyond conforming limits without splitting into two loans
Competitive interest rates — often comparable to conforming
Flexible terms: fixed, adjustable, and interest-only options
Can be used for primary, second home, or investment properties

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Worth considering

Stricter credit and reserve requirements
Higher down payment usually required
More documentation and longer underwriting timeline
Rate-sensitive — small rate changes have larger dollar impact

Documents you'll need

Two most recent pay stubs
Two years of W-2s and complete tax returns (personal and business if applicable)
Two to six months of bank and investment account statements
Documentation of liquid reserves (retirement accounts, brokerage)
Profit & loss statement if self-employed

When you need a jumbo loan

In most California counties, including all of LA County, Orange County, and the Bay Area, any home purchase above roughly $1.25M will require a jumbo loan. In most of the rest of the country, the threshold is around $833K.

Jumbo programs vary widely between lenders. Pricing, reserve requirements, and minimum credit scores vary widely between lenders, so shopping the loan matters more here than on a standard conforming purchase.

Common questions

What's the conforming loan limit for 2026?: $832,750 in most U.S. counties. High-cost areas like Los Angeles and the Bay Area have a ceiling of $1,249,125. Anything above your county's limit is a jumbo loan.
Are jumbo rates higher than conforming rates?: Not necessarily. In recent years jumbo rates have often been at or below conforming rates because lenders compete aggressively for high-net-worth borrowers.
Can I get a jumbo loan with 10% down?: Yes, several jumbo programs allow 10% down for strong borrowers. Expect a higher rate or PMI requirement compared to 20% down.
Do I need to be wealthy to qualify for a jumbo loan?: You need strong income, good credit, and meaningful cash reserves — typically 6 to 12 months of payments after closing. The exact thresholds depend on the loan amount.