Jumbo loans exceed conforming limits and are held on lender balance sheets. Pricing, reserve requirements, and DTI standards vary widely between lenders, this is where broker access matters most.
$1.2M - $30M
10-25%
680-720 depending on lender
6-24 months PITI
Most lenders want 700+, with the best pricing at 740+. We have programs that go to 680 with compensating factors.
Yes, up to certain loan sizes. Above roughly $2M most lenders want 20%+ down, though a handful still allow 10% with strong reserves.
With most jumbo lenders, yes, given a two-year history and evidence of continuance. Lender selection matters enormously here.
A tech executive whose base salary alone would not qualify, with three years of vesting restricted stock history.
Two of the four lenders we shopped counted the RSU income in full. Choosing the right one was the difference between approval and decline.
A buyer with lumpy bonus income who wanted payment flexibility and planned to make large annual principal paydowns.
Interest-only kept the required monthly payment low, with annual bonus paydowns recasting the payment down further.
Examples are illustrative composites of typical files, not offers of credit or guarantees of terms. Your actual options depend on your credit, income, property, and current market pricing.