Jumbo Loans

Jumbo loans are designed for buyers who need financing beyond the standard conforming loan limits set by Fannie Mae and Freddie Mac. If you’re purchasing a high-value property—especially in competitive or luxury markets—a jumbo loan allows you to borrow more than the typical mortgage cap. These loans come with unique requirements, but they also offer customized solutions for borrowers with strong credit and financial profiles. If you’re looking at homes that exceed conventional price points, a jumbo loan can help you move forward with confidence and flexibility.

What Makes a Loan Jumbo?

By definition, a jumbo loan is any mortgage that exceeds the conforming loan limits set annually by the Federal Housing Finance Agency (FHFA). For most areas, that limit is $726,200 for a single-family home, but in certain high-cost counties, it can be significantly higher. If your loan amount is above these limits, it’s considered a jumbo loan and won’t be eligible for purchase by Fannie Mae or Freddie Mac.

Because these loans fall outside of the standard guidelines, they’re considered non-conforming. That means lenders take on more risk and typically require borrowers to meet stricter qualification criteria. But in return, you get access to higher loan amounts, flexible terms, and the ability to finance properties that simply can’t be covered by conventional mortgage products.

Jumbo loans are commonly used for luxury homes, larger investment properties, or purchases in expensive real estate markets where even modest homes exceed conforming limits. Whether you’re upgrading your primary residence or investing in a second home, jumbo financing gives you the freedom to buy without being held back by standard loan caps.

Who Qualifies for a Jumbo Loan?

Because of the larger loan amounts and increased risk to lenders, jumbo loans come with stricter qualifications than conforming loans. The good news is, if you have a strong financial foundation, the process can be straightforward—and well worth it.

Lenders typically look for credit scores of 700 or higher for jumbo loans, although requirements can vary. A higher score not only helps you qualify, but may also improve your interest rate and terms. You’ll also need to demonstrate low debt-to-income (DTI) ratios—generally below 43%—and stable, verifiable income.

Down payment requirements are usually higher than those for conventional loans. While some jumbo programs may allow for 10% down with no private mortgage insurance, putting down 20% or more is common and can strengthen your application. You’ll also need to show sufficient reserves—often 6 to 12 months of mortgage payments—in the form of savings, retirement accounts, or liquid investments.

Working with Lisa Rioux means you won’t have to guess what qualifies or stress over the paperwork. She’ll walk you through every step, help you prepare, and make sure your application is positioned to succeed.

Jumbo Loan Options and Flexible Structures

One of the benefits of jumbo loans is the flexibility they offer in terms of loan structure. While most people think of jumbo loans as fixed-rate, you can also explore adjustable-rate mortgage (ARM) options depending on your long-term goals. Fixed-rate jumbo loans provide predictability and stability, especially if you plan to stay in the home for a long time. ARMs, on the other hand, can offer lower initial interest rates—ideal if you plan to sell or refinance within a few years.

Loan terms are also customizable. You can choose a 15, 20, or 30-year loan based on what makes the most sense for your financial picture. Interest-only options are available in some cases, allowing you to minimize your monthly payments at the start of the loan while you manage cash flow or investments elsewhere.

Because jumbo loans aren’t standardized like conforming loans, lenders have more room to tailor the loan terms. Lisa works with a wide range of lenders and can help you evaluate custom offers based on your needs, whether you’re focused on keeping payments low, reducing interest over time, or building equity quickly.

Common Uses for Jumbo Loans

Jumbo loans are most often used for purchasing high-end homes, but they can also be used for a variety of other purposes. This includes financing second homes, vacation properties, and investment real estate that fall outside conforming loan limits. In many markets—especially throughout Florida—even mid-range homes may require jumbo financing due to rising prices.

Jumbo loans can also be used for refinancing. If you currently have a jumbo mortgage and want to secure a better rate or change the terms, refinancing into another jumbo loan may be a smart move. Lisa can help you determine if a refinance would be beneficial, and what documents and qualifications you’ll need to get approved.

Another option for jumbo borrowers is cash-out refinancing, which allows you to tap into your home’s equity and use the funds for home improvements, business investments, or other financial goals. Jumbo cash-out options are more limited than conforming ones but are still very much available with the right lender and a solid financial profile.

The Value of Personalized Jumbo Loan Guidance

Jumbo loans involve larger amounts of money, stricter underwriting, and more detailed documentation. That’s why personalized, hands-on support is crucial. Lisa Rioux doesn’t just hand off your application to a team—she personally manages every aspect of the loan process and keeps communication clear, responsive, and focused on your needs.

Whether you’re buying a home for your family or investing in a high-end property, you’ll get the benefit of Lisa’s experience, connections, and commitment to finding creative solutions. She’ll help you compare lenders, review custom loan offers, and make sure you understand every detail—so you feel confident signing on the dotted line.

When you’re working with large numbers and tight timelines, having a mortgage advisor who is accessible, honest, and proactive makes all the difference. Lisa’s clients value her transparency, her attention to detail, and her ability to find financing paths that others might overlook. With her help, the process of securing a jumbo loan becomes manageable—not overwhelming.