How this calculator works
Any loan above the conforming loan limit ($832,750 for most of the US in 2026) is a jumbo loan. The payment adds principal and interest, property tax and insurance. Jumbo lenders commonly ask for 6 to 12 months of payments in reserve, shown as a range.
Worked example
With the example values below: Monthly payment, $7,381 (jumbo by $127,250). Change any number above to run your own.
What you enter
| Input | Example |
|---|---|
| Home price | $1,200,000 |
| Down payment | $240,000 |
| Interest rateExample rate; use your quote | 6.6% |
| Loan term | 30 years |
| Taxes & insurance | |
| Property tax rateAnnual, as % of home value | 1.1% |
| Homeowners insurance / yr | $1,800 |
| Conforming loan limit2026 baseline; higher in high-cost counties | $832,750 |
What makes a loan jumbo
A jumbo loan is a mortgage larger than the conforming loan limit, the most Fannie Mae and Freddie Mac will buy. For 2026 that limit is $832,750 for a one-unit home in most of the US, and up to $1,249,125 in high-cost areas. Because jumbo loans can't be sold to Fannie or Freddie, lenders keep them or sell them privately, and set their own rules.
Jumbo rates are sometimes close to, or even below, conforming rates for strong borrowers, but approval standards are stricter.
Typical jumbo requirements
The calculator shows a reserves range based on your payment, so you can see how much cash lenders may want you to keep after closing.
- Down payment of 10% to 20%, sometimes more for very large loans.
- Credit score of about 700 to 740 or higher.
- Debt-to-income ratio of 43% or lower.
- Cash reserves of 6 to 12 months of payments after closing, sometimes more.
- Full income documentation and, often, two appraisals for very large loans.
Ways to avoid a jumbo loan
If your loan is only slightly over the limit, a larger down payment can bring it under and qualify you for conforming terms. Another option is a piggyback structure: a conforming first mortgage plus a second mortgage or HELOC for the rest. That can avoid jumbo requirements and PMI, though the second loan usually has a higher, variable rate.
Compare a jumbo quote with a piggyback quote in the mortgage comparison calculator.
Costs to plan for
Larger loans mean larger closing costs in dollars, and very expensive homes carry high property tax and insurance bills. The mortgage calculator shows the full monthly payment, and mortgage points can make more sense on a large balance because each point buys a bigger dollar saving.
Frequently asked questions
What is the jumbo loan limit for 2026?
Any loan above the 2026 conforming limit is jumbo: $832,750 for a one-unit home in most counties, or up to $1,249,125 in designated high-cost areas.
How much do you need to put down on a jumbo loan?
Usually 10% to 20%, depending on the lender, loan size and your credit. Some lenders offer 5% down jumbo loans for very strong borrowers.
Are jumbo loan rates higher?
Not always. For borrowers with high credit scores, large down payments and substantial assets, jumbo rates can be similar to or lower than conforming rates. Weaker applications pay more.
What credit score do I need for a jumbo loan?
Most lenders want at least 700, and many look for 720 to 740 or higher for the best terms.
How much in reserves do jumbo lenders require?
Typically 6 to 12 months of full mortgage payments in liquid or retirement assets after closing. Larger loans and second homes often require more.
Grow what this calculator projects.
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Estimates for planning only, not financial, tax or legal advice. Tax tools use 2026 federal figures (brackets, $16,100 / $32,200 standard deduction, $19,000 gift exclusion, $15M lifetime exemption). Rates shown as defaults are examples; replace them with quotes you actually receive.