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Comments Off on Want a Raise? Use Those Pay Transparency Laws
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Your performance review is coming up and you want a raise. But the job market isn’t exactly hot right now, so you’re not sure how much leverage you have with your employer.
Asking for a raise is no one’s idea of fun, and it can feel especially nerve-wracking as AI and economic uncertainty trigger more layoffs. At the same time, if you think you have a strong case for higher pay, you want to make it, especially if you’ve taken on new responsibilities, outperformed your peers, or aren’t being paid the going rate for your role.
The good news? Despite the uncertainty, companies see steady growth in salary budgets next year. According to the Conference Board’s annual survey, employers are expecting an average budget increase of 3.4% in 2026. That’s below the peak increases of the post-COVID years, but the same as 2025 and above the 3% pre-pandemic average.
Plus, there’s increasing transparency around pay, making it easier to know how yours compares to others. Over the past few years, laws in California, New York, and eight other states have required employers to include salary ranges when posting open positions. About 53% of monthly U.S. job postings now give a range, up from roughly 15% prior to 2018, according to an analysis by Liberty Street Economics.
(One caveat: Not everyone that’s required to be transparent has embraced the new trend. Liberty Street found that 24% of ads in Colorado, California, Washington and New York City — the earliest jurisdictions to adopt pay transparency — haven’t complied with the laws. And The Wall Street Journal reported in 2022 that some employers in NYC were defeating the purpose by posting a low and high end that differed by hundreds of thousands.)
So what?
If you think you deserve a raise, advocate for yourself and ask for one. But make sure you do your homework first. Research what your role pays at other employers and take the time to prepare talking points (or a brag sheet) that shows your boss why you’re worth it. You’d be surprised by what they may not realize.
Here are some other strategies that can help:
Quantify your accomplishments. Employers are becoming more performance-centric, according to the Conference Board’s survey. So be specific with how you’re advancing the company’s business objectives by quantifying your contributions as much as possible.
Practice what you’ll say. Pay is an awkward topic, and you may be nervous. The more you can script the language you want to use, the better. Maybe even do a little role play with a trusted friend or your partner.
Give some wiggle room. You’re being assertive by asking for a raise. It’s best to balance that by showing that you’re flexible and reasonable. Try sharing a range instead of a single number, suggests Harvard Law School’s Program on Negotiation. For example, instead of asking for a 3% raise, you might suggest a 4%-5% raise. Your manager will appreciate your flexibility if you accept less.
Find a win. It’s possible that you won’t get a raise. That doesn’t mean you can’t walk away with other benefits like a more flexible work schedule or tuition reimbursement. Think about what else would make your job better. If you’ve taken on new responsibilities, should you have a new job title or description? (It could make it easier to make a move when the job market is better.)
Make it count. If you get the raise, use the money wisely. Consider paying down debt, building up your emergency savings, or contributing to your retirement. Here are some other tips for maximizing your raise.
Please understand that this information provided is general in nature and shouldn’t be construed as a recommendation or solicitation of any products offered by SoFi’s affiliates and subsidiaries. In addition, this information is by no means meant to provide investment or financial advice, nor is it intended to serve as the basis for any investment decision or recommendation to buy or sell any asset. Keep in mind that investing involves risk, and past performance of an asset never guarantees future results or returns. It’s important for investors to consider their specific financial needs, goals, and risk profile before making an investment decision.
The information and analysis provided through hyperlinks to third party websites, while believed to be accurate, cannot be guaranteed by SoFi. These links are provided for informational purposes and should not be viewed as an endorsement. No brands or products mentioned are affiliated with SoFi, nor do they endorse or sponsor this content.
SoFi isn't recommending and is not affiliated with the brands or companies displayed. Brands displayed neither endorse or sponsor this article. Third party trademarks and service marks referenced are property of their respective owners.
Buying a home in Utah’s competitive real estate market often requires exploring financing options beyond traditional loan limits. A jumbo mortgage can help qualified borrowers purchase higher-priced homes, especially in desirable areas where property values exceed conventional loan thresholds. Understanding how these larger loans work — and how much they’ll cost — can help you make an informed decision.
The Utah jumbo mortgage calculator estimates your monthly payments, interest costs, and affordability based on your loan amount and rate. It helps you see how different terms or down payments affect your budget before you apply. Keep reading to learn more on Utah jumbo loans, how jumbo loans differ from conforming loans, and how to use the Utah jumbo mortgage calculator.
Key Points
• The Utah jumbo mortgage calculator helps estimate monthly mortgage payments, interest costs, and total cost of the loan.
• To use the calculator, input the home price, down payment amount, loan term, interest rate, and property tax rate.
• Jumbo loans often have stricter qualification criteria, including higher credit scores and significant cash reserves.
• Jumbo loans typically require a down payment of 10%. Higher down payments can improve loan terms and reduce monthly payments.
• The calculator allows you to see the impact of different interest rates and loan terms on monthly payments and total loan costs.
Utah Jumbo Loan Calculator
Calculator Definitions
• Jumbo loan: A jumbo loan is a mortgage that exceeds the conforming loan limits set by the FHFA.
• Home price: The home price is the agreed-upon purchase price between you and the seller. This amount may differ from the initial listing price or your initial offer.
• Down payment: The down payment is the initial upfront payment, typically 10% or more of the purchase price for a jumbo loan.
• Loan term: The loan term is the duration you have to repay the mortgage, usually 15 or 30 years.
• Interest rate: The interest rate is the cost of borrowing, expressed as a percentage of the loan amount. Interest rates vary based on borrower qualifications, market conditions, and the type of mortgage loan. It can be fixed or variable.
• Annual property tax: Annual property tax is a percentage of the property’s assessed value, which is an average of 0.55% in Utah.
How to Use the Utah Jumbo Loan Calculator
To use the Utah jumbo loan calculator, input the following details accurately to receive an estimate of your monthly payments, including principal, interest, and property tax.
Step 1: Enter Your Home Price
Input the agreed-upon home price into the calculator. This figure helps the calculator give an estimate of your home loan and monthly mortgage payments.
Step 2: Add a Down Payment Amount
Specify the down payment amount, typically 10% to 20% of the home price. A higher down payment can improve loan terms and reduce monthly payments. A down payment calculator can help you decide on your number.
Step 3: Choose a Loan Term
Select a loan term between 10 and 30 years. A 30-year term offers lower monthly payments, while a 15-year term (or lower) results in higher payments but less total interest.
Step 4: Enter an Interest Rate
Input the interest rate to the second or third decimal point. This rate will have a major affect on your monthly payments and total interest.
Step 5: Enter Your Annual Property Tax
Input the annual property tax rate, which is 0.55% on average in Utah. This helps you get a more accurate estimate of your total monthly mortgage payment.
What Are Jumbo Loans and Conforming Loan Limits?
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In most Utah counties in 2025, the limit is $806,500 for a single-family home. In higher-priced areas like Summit and Wasatch counties, the limit is $1,149,825. If your home loan amount is above these limits, you need a jumbo loan.
When comparing jumbo loans vs. conventional loans, jumbo loans often come with stricter qualification criteria, such as higher credit scores and significant cash reserves. Lenders typically require a minimum down payment of 10%. Understanding these limits and requirements helps determine if a jumbo loan is the right choice for your home purchase.
Benefits of Using a Jumbo Loan Payment Calculator
Using a jumbo loan payment calculator offers several advantages. First, it helps you budget by providing a clear estimate of your monthly mortgage payments, including principal, interest, and property tax. This allows you to plan your finances and avoid surprises.
The calculator also shows how changes in the interest rate affect your payments, enabling informed decisions. For example, a 0.50% increase in the interest rate can significantly raise your monthly payment and total interest costs.
And finally, the tool allows you to compare offers from multiple lenders, including interest rates and terms, helping you find the best loan for your needs and financial goals.
How to Use the Jumbo Loan Calculator to Compare Scenarios
You can use the jumbo loan mortgage calculator to compare different loan scenarios and meet your long-term financial goals. Specifically, you can:
• Adjust the home price to assess affordability and set a realistic monthly budget.
• Change the down payment to see how it affects your monthly payments and total interest.
• Explore different loan terms to see how they impact your payments. A 30-year term offers lower monthly payments, while a 15-year term results in higher payments but less total interest.
• Explore different interest rates to find the best option. To get the best rate, build your credit score before applying.
• Understand the impact of property tax rates on your monthly payment.
Current mortgage rates by state.
Compare current home interest rates by state and find a mortgage rate that suits your financial goals.
Select a state to view current rates:
Deciding How Much House You Can Afford in Utah
Before committing to a jumbo loan, it’s important to determine how much house you can afford based on your income. Lenders advise keeping mortgage payments below 28% of your gross monthly income. For example, a $1 million home might require a $250,000 income, assuming a 10% down payment, a 30-year mortgage at 6.75%, and a monthly payment of $5,837 before taxes and insurance.
Factoring in debts is also important when determining affordability. Lenders suggest keeping total debt payments within 36% of your gross monthly income. In the example above, if your debts exceed about $1,600 a month — think student loans, credit cards, and car payments — the income needed for a $900,000 mortgage would be higher.
Larger down payments and lower interest rates can significantly impact affordability. A larger down payment reduces the mortgage amount, while a lower interest rate increases the amount you can afford. Mortgage preapproval can clarify your financial standing and help you understand your budget.
Jumbo loan payments include principal and interest, similar to any mortgage. The principal is the amount you borrow, and the interest is the cost of borrowing that amount.
Payments may also include property tax, a percentage of the home’s value paid monthly. In Utah, the average effective property tax rate on owner-occupied, single-family housing is around 0.55%.
And finally, your monthly mortgage payment may include homeowners insurance and homeowners association (HOA) fees. Knowing how these expenses factor in gives you a clearer view of your overall financial commitment and helps you prepare for the true costs of homeownership.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
Cost of Living in Utah
Utah’s cost of living is ever-so-slightly below the national average. The average cost of living index in the U.S. is benchmarked at 100, and Utah’s is 99.1, which is less than 1% lower than the national average. Housing costs, however, are 7.6% higher than the national average.
In addition to housing costs, though, it’s important to consider other expenses like utilities, home maintenance, transportation, and groceries. These additional costs can add up and affect your overall financial stability. In Utah, utilities are 17% lower, transportation is almost 5% higher, and groceries are 3% lower.
You can use a home affordability calculator to get a general idea of what you can afford based on your income and current debts.
Tips on Reducing Your Jumbo Loan Payment
Even if the area of Utah that you want to live in necessitates a jumbo mortgage, there are strategies to make your mortgage payment more affordable. You can:
• Consider an adjustable-rate mortgage (ARM) for possibly a lower initial interest rate, which can reduce early monthly payments.
• Extend the term of your loan through a mortgage refinance. Refinancing to a longer term can lower monthly payments, though it will increase total interest paid over the life of the loan.
• Modify your loan during financial hardship to lower monthly payments, such as by extending the term or reducing the interest rate.
• Shop for a lower homeowners insurance rate by comparing quotes and increasing your deductible.
The Takeaway
When considering a jumbo loan in Utah, it’s important to use a Utah jumbo loan calculator to estimate your monthly payments and fully understand the financial commitment involved. To use the calculator, simply input the home price, down payment amount, interest rate, loan term, and property tax rate. You can adjust the numbers and compare loans to help you make the best decision for your financial situation.
When you’re ready to take the next step, consider what SoFi Home Loans have to offer. Jumbo loans are offered with competitive interest rates, no private mortgage insurance, and down payments as low as 10%.
SoFi Mortgages: We make mortgage loan applications smart and simple.
Jumbo loans exceed the conforming loan limits set by the Federal Housing Finance Agency (FHFA). As of 2025, the limit for a single-family home is $806,500 in most counties in Utah, with higher limits in Summit ($1,149,825), Wasatch ($1,149,825), and Wayne ($997,050).
How much is a $900,000 mortgage payment for 30 years?
At a 7.00% interest rate, the monthly payment for a $900,000, 30-year mortgage would be approximately $5,988, excluding property taxes and other fees. You can use a jumbo loan calculator to estimate your payment based on your loan details.
Do you need 20% for a jumbo loan?
While a 20% down payment can be required for jumbo loans, some lenders accept 10%. A higher down payment can improve loan terms and reduce monthly payments.
How much are closing costs on a jumbo loan?
Closing costs for jumbo loans range from 2% to 5% of the total loan amount. For a $1 million jumbo loan, closing costs could be between $20,000 and $50,000. These costs cover fees like appraisal, title, and origination.
What is the jumbo loan limit?
The jumbo loan limit is a threshold that determines when a mortgage is considered a jumbo loan. In most U.S. counties, the limit for a single-family home is $806,500. In high-cost areas, the limit can be higher, up to $1,209,750.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
A South Dakota jumbo loan calculator estimates the monthly payments and total cost of your jumbo loan, allowing you to make sure you can afford the cost before buying. In South Dakota, the conforming loan limit is $806,500 for single-family homes. Anything above this amount will require a jumbo loan.
Keep reading to learn more on jumbo loans versus conforming loans, how to use the South Dakota jumbo loan calculator, and how to save on your jumbo loan.
Key Points
• The South Dakota jumbo mortgage calculator helps estimate monthly mortgage payments and total interest accrued.
• To use the calculator, input the purchase price of the home, the down payment amount, the loan term, the interest rate, and the property tax rate.
• Jumbo loans often have stricter qualification criteria, including higher credit scores and significant cash reserves.
• Jumbo loans require a down payment of at least 10%. Higher down payments can improve loan terms and reduce monthly payments.
• The calculator allows you to compare different loan scenarios to find the best fit.
South Dakota Jumbo Loan Calculator
Calculator Definitions
• Jumbo loan: A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In all South Dakota counties in 2025, the conforming loan limit for a single-family home is $806,500.
• Home price: The home price is the agreed-upon purchase price between the buyer and the seller. This helps determine the home loan amount and the monthly payments.
• Down payment: The down payment is the initial amount a homebuyer contributes upfront, typically expressed as a percentage of the home’s purchase price. For jumbo loans, lenders often require at least 10% of the purchase price.
• Loan term: The loan term is the duration over which you repay the mortgage, usually 15 or 30 years.
• Interest rate: The interest rate is the cost of borrowing, expressed as a percentage of the loan amount. It can be fixed or variable. Interest rates vary based on borrower qualifications, market conditions, and the type of mortgage loan.
• Annual property tax: Annual property tax is levied by local governments on land and buildings. It is a percentage of the property’s assessed value.
How to Use the South Dakota Jumbo Loan Calculator
Using a South Dakota jumbo loan calculator is straightforward. It helps you estimate monthly payments, total interest, and other costs. Here’s a step-by-step guide on how to use it.
Step 1: Enter Your Home Price
Type in the agreed-upon purchase price of the home.
Step 2: Add a Down Payment Amount
Specify the total amount you plan to use as a down payment. A higher down payment can improve loan terms and reduce monthly payments. A down payment calculator can help you decide on your number.
Step 3: Choose a Loan Term
Select a loan term from 10 to 30 years. A 30-year term offers lower monthly payments, while a 15-year term (or lower) saves on interest.
Step 4: Enter an Interest Rate
Input your desired interest rate to the second or third decimal point. Interest rates can fluctuate based on market conditions and your creditworthiness.
Step 5: Enter Your Annual Property Tax
Enter the annual property tax as a percentage of the assessed property value. In South Dakota, the average effective property tax rate is 1.14%, but it varies by county.
What Are Jumbo Loans and Conforming Loan Limits?
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In all South Dakota counties in 2025, the conforming loan limit for a single-family home is $806,500. If you’re financing a home that costs more, you’ll need a jumbo loan.
When comparing jumbo loans vs. conventional loans, jumbo loans often have stricter qualification criteria, such as higher credit scores and significant cash reserves, but they offer the flexibility needed to purchase high-value properties. Understanding these limits and criteria is essential for making informed decisions about your home financing.
Benefits of Using a Jumbo Loan Payment Calculator
Using a jumbo loan calculator has several advantages. It helps you budget by providing a clear estimate of monthly payments and total interest. You can compare different interest rates, loan terms, and down payment scenarios to see how they affect your payments.
This tool is also invaluable for comparing offers from multiple lenders, ensuring you find the best loan for your needs. With these insights, you can confidently navigate the home-buying process and make the best financial choices for your future.
How to Use the Jumbo Loan Calculator to Compare Scenarios
You can use the jumbo loan mortgage calculator to compare different loan scenarios and meet your financial goals. With the calculator, you can:
• Adjust the home price to see what you can afford.
• Consider a larger down payment to lower interest costs and your monthly payment.
• Experiment with loan terms to see their impact on payments and total interest.
• Explore different interest rates to find the best option. To get the best rate, build your credit score before applying.
• Understand the impact of property tax rates on your monthly payment.
Current mortgage rates by state.
Compare current home interest rates by state and find a mortgage rate that suits your financial goals.
Select a state to view current rates:
Deciding How Much House You Can Afford in South Dakota
Before committing to a jumbo loan, it’s important to determine how much house you can afford based on your income. Lenders generally advise that your mortgage should not exceed 28% of your gross monthly income. For a $1 million home, you would need about a $250,000 income, assuming a 10% down payment, a 30-year mortgage, and a 6.75% interest rate. This yields a $5,837 monthly payment, excluding taxes and other fees.
Factoring in all debts is important, too. Total debt payments should stay within 36% of your gross monthly income. In the example above, if your debts exceed about $1,600 a month — think student loans, credit cards, and car payments — the income needed for a $900,000 mortgage would be higher.
If your monthly debts exceed $3,000, an income closer to $300,000 is needed. Mortgage preapproval can clarify your maximum mortgage, simplifying the homebuying process. Though, only you can say what a comfortable budget is, based on your assets, lifestyle, and financial goals.
The main components of a jumbo loan payment include the mortgage principal and interest. The principal is the amount you borrow, and the interest is the cost of borrowing that amount.
Additionally, a jumbo loan calculator factors in the annual property tax assessment. Property taxes are typically calculated as a percentage of the assessed property value by the local government. In South Dakota, the average effective property tax rate on owner-occupied housing averages around 1.14%.
And finally, your monthly mortgage payment may include homeowners insurance and homeowners association (HOA) fees. Knowing how these expenses factor in gives you a clearer view of your overall financial commitment and helps you prepare for the true costs of homeownership.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
Cost of Living in South Dakota
The cost of living in your area will have an effect on how much you can afford to spend on a home. According to MERIC, the cost of living index in South Dakota is 91.8, which is about 8% lower than the national average of 100. And fortunately for South Dakota homebuyers, housing costs are approximately 15% lower than the national average. This means you may be able to get more house for your money than you would in other areas of the country.
Even if you understand that your mortgage payment will be a stretch financially, it’s important to consider other expenses like utilities, home maintenance, transportation, and groceries. These additional costs can add up and affect your overall financial stability. In South Dakota, these fall below the national average, too, but still need to be factored into your budget. Utilities are 14% lower, transportation is 5% lower, and groceries are 3% lower.
You can use a home affordability calculator to get a general idea of what you can afford based on your income and current debts.
Tips on Reducing Your Jumbo Loan Payment
Reducing your jumbo loan payment can make homeownership more manageable. Here are some strategies to consider:
• Shop around for the best home loan rates. A lower interest rate can significantly reduce your monthly payment and total interest paid.
• Consider an adjustable-rate mortgage (ARM). ARMs may offer a lower initial interest rate, making monthly payments more manageable during the early years of homeownership.
• Modify your loan. In cases of financial hardship, your lender might agree to lower the interest rate or extend the loan term to make payments more manageable.
• Extend the term of your loan through a mortgage refinance. Refinancing to a longer term can lower monthly payments, though it will increase total interest paid over the life of the loan.
The Takeaway
When considering a high-value property in South Dakota, a jumbo loan calculator can help aid your decision-making process. It estimates monthly payments, total interest paid over the life of the loan, and the impact of different down payment scenarios, interest rates, and loan terms on your overall financial burden.
When you’re ready to take the next step, consider what SoFi Home Loans have to offer. Jumbo loans are offered with competitive interest rates, no private mortgage insurance, and down payments as low as 10%.
SoFi Mortgages: We make mortgage loan applications smart and simple.
A jumbo loan is a mortgage exceeding the conforming loan limits. For 2025, the limit for a single-family home in South Dakota is $806,500 in all counties. Higher limits may apply in more expensive regions in the U.S.
Is $900,000 a jumbo loan?
Yes, a $900,000 mortgage is generally considered a jumbo loan in most areas, including South Dakota. The conforming loan limit for a single-family home in most areas in 2025 is $806,500.
Do you need 20% for a jumbo loan?
While a 20% down payment is often recommended, it is not always required. Some lenders accept as low as 10%. A higher down payment can lead to better loan terms and lower monthly payments.
What credit score is needed for a jumbo loan?
Qualifying for a jumbo loan typically requires a higher credit score, often 700 or above, with some lenders requiring 740 or higher. A strong credit score demonstrates your reliability and ability to manage debt. You can build your credit score by making all of your debt payments on time, keeping your debt-to-income ratio low, and disputing any errors you may find on your credit report.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
The Pennsylvania jumbo loan calculator assists homebuyers in navigating the intricacies of financing high-value properties within the state. It can help you estimate your potential monthly mortgage payments and the overall costs associated with the jumbo loan. Keep reading to learn more about the Pennsylvania jumbo mortgage loan calculator, how jumbo loans differ from conforming loans, and how to get the best deal on your jumbo loan.
Key Points
• A jumbo loan is a mortgage for an amount exceeding the conforming loan limit.
• In Pennsylvania, the conforming loan limit is $806,500 in all counties except Pike County, where the limit is $1,209,750.
• A Pennsylvania jumbo loan calculator helps estimate monthly payments and total interest.
• Jumbo loans often have stricter qualification criteria, including higher credit scores and significant cash reserves.
• The calculator allows you to see the impact of different interest rates and loan terms on monthly payments and total loan costs.
Pennsylvania Jumbo Loan Calculator
Calculator Definitions
• Jumbo loan: A jumbo loan represents a mortgage for a principal amount exceeding the conforming loan limit, set by the Federal Housing Finance Agency. In Pennsylvania, that limit is $806,500 in all counties except Pike County ($1,209,750).
• Home price: The home price represents the purchase price that you and the home seller have mutually agreed upon. It may differ from the initial listing price or the initial offer you submitted during negotiations.
• Down payment: The down payment represents the amount a homebuyer contributes upfront when purchasing a property, often expressed as a percentage of the total purchase price. Jumbo loans typically require a down payment of at least 10%.
• Loan term:The loan term is the length of time you have to repay the mortgage, typically structured as either a 15-year or a 30-year period.
• Interest rate: The interest rate is the cost of borrowing money, expressed as a percentage of the total loan amount. This rate can be either variable or fixed. Interest rates vary based on borrower qualifications, market conditions, and the type of mortgage loan.
• Annual property tax: Property tax is levied by local governments on land and buildings within their jurisdiction, typically expressed as a percentage of the property’s assessed value.
How to Use the Pennsylvania Jumbo Loan Calculator
The Pennsylvania jumbo loan calculator estimates the financial implications of a jumbo mortgage. Here’s how to use the calculator so you can get an estimate of your monthly payments and total cost of the loan.
Step 1: Enter Your Home Price
Begin by entering the home price exactly as listed on your purchase contract. This directly impacts the amount of your home loan and your monthly payment obligations.
Step 2: Add a Down Payment Amount
Next, specify the down payment amount you have saved. Jumbo loans typically require a down payment of at least 10%, but a higher amount can improve your loan terms and reduce monthly payments. A down payment calculator can help you decide on your number.
Step 3: Choose a Loan Term
Select a loan term that best suits your financial goals. Most options are 15 or 30 years, but the calculator allows you to select a term as low as 10 years. A longer term results in lower monthly payments but higher total interest. A shorter term has higher monthly payments but saves on interest.
Step 4: Enter an Interest Rate
Input your desired interest rate to get an accurate estimate of your monthly mortgage payment. Interest rates can fluctuate based on market conditions and your creditworthiness.
Step 5: Enter Your Annual Property Tax
Enter the annual property tax rate as a percentage. In Pennsylvania, the average effective property tax rate is 1.41%, but it varies by county.
What Are Jumbo Loans and Conforming Loan Limits?
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). These limits vary by county and are typically higher in high-cost areas. In most Pennsylvania counties in 2025, the conforming loan limit for a single-family home is $806,500. For loan amounts above this cutoff, a jumbo loan is necessary. In higher-priced areas like Pike County, the conforming loan limit for a single unit is $1,209,750.
When comparing jumbo loans vs. conventional loans, jumbo loans often come with stricter qualification criteria, such as higher credit scores and significant cash reserves, but they offer higher loan limits and flexible underwriting options. These loans are designed for high-value properties and can be a practical solution for individuals with substantial financial means.
Benefits of Using a Jumbo Loan Payment Calculator
There are many advantages to using a jumbo loan calculator when financing your home. First, it helps with budgeting by providing a clear estimate of your anticipated monthly mortgage payment, which includes the principal, interest, and property taxes. Knowing these figures in advance can help you avoid financial surprises and plan your expenses more effectively.
The calculator also allows you to see how small changes in the interest rate, loan term, or down payment amount can substantially affect your future payments and total cost of the loan. This makes it easier to compare offers from different lenders.
By inputting different scenarios, you can find the loan that best serves your financial needs and long-term goals.
How to Use the Jumbo Loan Calculator to Compare Scenarios
Use the jumbo loan mortgage calculator to compare different loan scenarios and meet your financial goals. You can:
• Adjust the home price to see what you can afford, considering your comfortable monthly payment may be less than your pre-qualified amount.
• Explore the impact of different down payment amounts on your monthly payments and total interest.
• Consider different loan terms to understand the trade-offs between monthly payments and total interest paid.
• Explore different interest rates to find the best option. To get the best rate, build your credit score before applying.
• Understand the impact of property tax rates on your monthly payment.
Current mortgage rates by state.
Compare current home interest rates by state and find a mortgage rate that suits your financial goals.
Select a state to view current rates:
Deciding How Much House You Can Afford in Pennsylvania
Affording a home in Pennsylvania requires careful consideration of median home prices and your financial situation. Lenders suggest that a mortgage payment should be no more than 28% of your gross monthly income. For example, a $1 million home might require a $250,000 income, assuming a 10% down payment, a 6.75% interest rate, and a 30-year term. This results in a $5,837 monthly payment before taxes and insurance.
Factoring in all debts is important, too. Total debt payments should stay within 36% of your gross monthly income. In the example above, if your debts exceed about $1,600 a month — think student loans, credit cards, and car payments — the income needed for a $900,000 mortgage would be higher.
If your monthly debts exceed $3,000, an income closer to $300,000 is needed. Mortgage preapproval can clarify your maximum mortgage, simplifying the homebuying process. Though, only you can say what a comfortable budget is, based on your assets, lifestyle, and financial goals.
The main components of a jumbo loan payment include the principal and interest. The principal is the amount borrowed, and the interest is the cost of borrowing that money.
Other components include property tax — which is included in our calculator — as well as homeowners insurance and homeowners association (HOA) fees. Knowing how these expenses factor in gives you a clearer view of your overall financial commitment and helps you prepare for the true costs of homeownership.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
Cost of Living in Pennsylvania
The cost of living in Pennsylvania can significantly affect how much house you can afford. Higher cost of living areas typically have higher average home prices, but they also come with increased expenses for utilities, home maintenance, transportation, and other necessities.
According to the Missouri Economic Research and Information Center (MERIC), the cost of living index in Pennsylvania is 97.1, which is about 3% lower than the national average of 100. And fortunately for homebuyers, housing costs in Pennsylvania are 13% lower than the national average.
Utilities are 9% higher than the national average, so that should be factored into your home-buying decision. You can use a home affordability calculator to get a general idea of what you can afford based on your income and current debts.
Tips on Reducing Your Jumbo Loan Payment
Even if you need a jumbo mortgage, it’s still worthwhile to explore ways to make your mortgage payment more affordable.
• Consider an adjustable-rate mortgage (ARM) for a possibly lower initial interest rate, which can reduce your monthly payment during the introductory period.
• Shop for a lower homeowners insurance rate by comparing quotes from different providers and implementing strategies like increasing your deductible or bundling policies.
• Modify your loan if you face financial hardship, which can include extending the loan term or reducing the interest rate to make payments more manageable.
• Refinance your mortgage if interest rates have improved or you’ve built your credit score. You can also extend the term of your loan, but keep in mind this will increase your total interest costs over the life of the loan.
The Takeaway
When considering a jumbo loan in Pennsylvania, it’s important to use a Pennsylvania jumbo loan calculator to estimate your monthly payments and overall costs. This tool can help you understand the financial implications of different down payment amounts, interest rates, and loan terms, empowering you to choose a home and a loan that fits your lifestyle and budget.
When you’re ready to take the next step, consider what SoFi Home Loans have to offer. Jumbo loans are offered with competitive interest rates, no private mortgage insurance, and down payments as low as 10%.
SoFi Mortgages: We make mortgage loan applications smart and simple.
In Pennsylvania, a jumbo loan is a mortgage that exceeds the conforming loan limits. For 2025, the limit for a single one-unit property in Pike County is $1,209,750; for all other counties in Pennsylvania, it’s $806,500.
How much is a $900,000 mortgage payment for 30 years?
Using a jumbo loan calculator, a $900,000 mortgage at 7.00% interest would result in an estimated monthly payment of approximately $6,000, including principal and interest, but not property taxes or insurance.
What are the benefits of a jumbo loan?
A jumbo loan allows buyers to finance high-value properties that exceed conforming loan limits. Benefits include access to luxury or competitive markets, flexible loan terms, and potentially lower interest rates for well-qualified borrowers. It also enables purchasing a home without multiple smaller loans or larger upfront payments.
What credit score is needed for a jumbo loan?
To qualify for a jumbo loan, a strong credit score is necessary. Lenders generally require a minimum credit score of 700, but some may set the bar higher, especially for larger loan amounts. A higher credit score, such as 740 or above, can improve your chances of approval and secure more favorable terms.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
Whether you’re a first-time homebuyer or a seasoned investor, the Oregon jumbo mortgage loan calculator helps you estimate the costs and payments associated with jumbo loans. Jumbo loans exceed the conforming loan limits set by the Federal Housing Finance Agency. In Oregon, this limit is $806,500 for single-family homes.
Keep reading to learn how to use the Oregon jumbo mortgage calculator effectively, how jumbo loans differ from conforming loans, and more.
Key Points
• Jumbo loans exceed the conforming loan limits set by the FHFA; in Oregon, this limit is $806,500 in all counties in 2025.
• To use the calculator, enter in the home price, down payment amount, loan term, interest rate, and property tax rate.
• Jumbo loans have stricter qualification criteria, including a higher credit score and significant cash reserves.
• Jumbo loans require a minimum down payment of 10%. Higher down payments can improve loan terms and reduce monthly payments.
• The calculator allows you to see the impact of different interest rates and loan terms on monthly payments and total loan costs.
Oregon Jumbo Loan Calculator
Calculator Definitions
• Jumbo loan: A jumbo mortgage loan is a home loan that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In all Oregon counties in 2025, the conforming loan limit for a single-family home is $806,500.
• Home price: The home price represents the purchase price you have agreed upon with the home seller during negotiations. It directly impacts the size of your home loan and your monthly payments.
• Down payment: The down payment represents the initial amount a homebuyer contributes upfront when purchasing a property, often expressed as a percentage of the total purchase price. Jumbo loans typically require a down payment of at least 10%.
• Loan term: The loan term represents the length of time you have to repay the mortgage, generally 15 or 30 years.
• Interest rate: The interest rate represents the cost of borrowing money, typically expressed as a percentage of the total loan amount. It can be variable or fixed. Interest rates vary based on borrower qualifications, market conditions, and the type of mortgage loan.
• Annual property tax: Annual property tax is a levy imposed by local governments on land and buildings. It is typically expressed as a percentage of the property’s assessed value.
How to Use the Oregon Jumbo Loan Calculator
The Oregon jumbo loan calculator helps estimate monthly payments and total loan costs. Follow these steps to use the calculator effectively.
Step 1: Enter Your Home Price
Type in the home price listed on your purchase contract. This is the agreed-upon purchase price you negotiated with the seller. Accurate input ensures the calculator provides a reliable estimate of your monthly mortgage payment.
Step 2: Add a Down Payment Amount
Specify the amount you intend to use as a down payment. Jumbo loans typically require at least 10% of the property’s value. A higher down payment can improve loan terms and reduce monthly payments. A down payment calculator can help you decide on your number.
Step 3: Choose a Loan Term
Select a loan term ranging from 10 to 30 years. A longer term lowers monthly payments but increases total interest paid. A shorter term increases monthly payments but reduces total interest.
Step 4: Enter an Interest Rate
Input your desired interest rate to the second or third decimal point. The interest rate significantly impacts your monthly payment and total interest paid.
Step 5: Enter Your Annual Property Tax
Enter your annual property tax rate. In Oregon, the average effective property tax rate is around 0.86%. This helps provide a more accurate estimate of your total monthly mortgage payment and ensures you are prepared for the financial commitment.
What Are Jumbo Loans and Conforming Loan Limits?
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In 2025, the conforming loan limit for a single-family home in all Oregon counties is $806,500. For loan amounts above this threshold, a jumbo loan is necessary.
When comparing jumbo loans vs. conventional loans, jumbo loans often come with stricter qualification criteria, such as a higher credit score and significant cash reserves. Despite these stringent requirements, jumbo loans offer higher loan limits and flexible underwriting options, making them a smart choice for those looking to purchase more expensive homes.
Using a jumbo loan calculator offers several advantages. First, it helps you budget effectively by providing a clear estimate of your monthly mortgage payment, avoiding unexpected financial surprises.
A jumbo loan calculator also helps you evaluate the long-term cost of borrowing. It can show how much interest you’ll pay over the life of the loan and how certain changes — like adjusting your down payment or building your credit score — might lower your costs.
And finally, a jumbo loan calculator enables you to compare offers from multiple lenders, ensuring you find the best loan for your needs. By inputting different financial scenarios, you can make better-informed decisions about your loan term and down payment, ultimately helping you secure the most suitable mortgage for your high-value property.
How to Use the Jumbo Loan Calculator to Compare Scenarios
The jumbo loan mortgage calculator is a powerful tool for comparing different loan scenarios. With it, you can:
• Adjust the home price to see what you can afford.
• Change the down payment amount — a larger down payment can reduce interest and lower monthly payments.
• Consider different loan terms to understand the trade-offs between monthly payments and total interest paid.
• Explore different interest rates to find the best option.
• Understand the impact of property tax rates on your monthly payment.
Current mortgage rates by state.
Compare current home interest rates by state and find a mortgage rate that suits your financial goals.
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Deciding How Much House You Can Afford in Oregon
Lenders suggest that mortgage payments shouldn’t exceed 28% of your gross monthly income. For a $1 million home, you would need a $250,000 income, assuming a 10% down payment, a 30-year mortgage, and a 6.75% interest rate. This results in roughly $5,837 monthly payments before taxes and insurance.
You also need to factor in debts when determining affordability. Aim for total debt payments within 36% of your gross monthly income. In the example above, if your debts exceed about $1,600 a month — think student loans, credit cards, and car payments — the income needed for a $900,000 mortgage would be higher.
If your monthly debts exceed $3,000, an income closer to $300,000 is needed. Mortgage preapproval can clarify your maximum mortgage, simplifying the homebuying process. Though, only you can say what a comfortable budget is, based on your assets, lifestyle, and financial goals.
The main components of a jumbo loan payment include the principal and interest. The principal is the amount borrowed, and the interest is the cost of borrowing that money.
Other components include property tax — which is included in our calculator — as well as homeowners insurance and homeowners association (HOA) fees. Knowing how these expenses factor in gives you a clearer view of your overall financial commitment and helps you prepare for the true costs of homeownership.
Using the free calculators is for informational purposes only, does not constitute an offer to receive a loan, and will not solicit a loan offer. Any payments shown depend on the accuracy of the information provided.
Cost of Living in Oregon
The cost of living in Oregon impacts home affordability. Oregon’s cost of living index is 111.8 out of 100, according to MERIC, which is 11.8% above the national average. Housing costs are 22% higher, utilities are 3-4% lower, and transportation is 26% higher than the national average. All of these factors should be considered when determining how large of a loan you can comfortably afford.
You can use a home affordability calculator to get a general idea of what you can afford based on your income and current debts.
Tips on Reducing Your Jumbo Loan Payment
Even if the area of Oregon that you want to live in necessitates a jumbo mortgage, there are ways to make your mortgage payment more affordable.
• Increase your down payment to reduce the loan amount and potentially lower your interest rate.
• Negotiate closing costs with the seller to reduce upfront expenses.
• Consider an adjustable-rate mortgage (ARM) for possibly a lower initial interest rate, but be prepared for potential rate increases.
• Modify your loan terms in the event of financial hardship to make payments more manageable.
• Extend the term of your loan by refinancing your mortgage, though this increases total interest paid.
• Shop around for different lenders to find the best rates and terms.
The Takeaway
When considering a high-value home in Oregon, an Oregon jumbo loan calculator can help you estimate monthly payments, total interest paid, and the impact of varying down payment amounts and loan terms. Knowing these numbers allows you to make well-informed decisions about your significant home purchase, ensuring the financial commitment remains within your budget and aligns with your long-term financial goals.
When you’re ready to take the next step, consider what SoFi Home Loans have to offer. Jumbo loans are offered with competitive interest rates, no private mortgage insurance, and down payments as low as 10%.
SoFi Mortgages: We make mortgage loan applications smart and simple.
A jumbo loan is defined as a mortgage exceeding the conforming loan limits. For 2025, the limit for a single-family home is $806,500 in Oregon. Higher limits apply in certain high-cost areas of the U.S.
Is $900,000 a jumbo loan?
Yes, a $900,000 mortgage is generally considered a jumbo loan in most areas. In 2025, the conforming loan limit for a single-family home is $806,500. Higher limits apply in certain high-cost areas.
Do you need 20% for a jumbo loan?
While a 20% down payment is always welcome, some lenders accept as low as 10%. A larger down payment can improve loan terms and lower monthly payments.
What credit score is needed for a jumbo loan?
Qualifying for a jumbo loan often requires a credit score of 700 or above, with some lenders preferring 740. A strong credit score demonstrates creditworthiness and reduces risk to the lender. Steps to build your credit score include paying down debts and making timely payments.
How do you get the best rate on a jumbo loan?
To secure the best interest rate on a jumbo loan, build your credit score, increase your down payment to at least 20%, and shop around for lenders who specialize in jumbo loans. Consider locking in your interest rate once you find a favorable offer.
SoFi Mortgages
Terms, conditions, and state restrictions apply. Not all products are available in all states. See SoFi.com/eligibility-criteria for more information.
SoFi Loan Products
SoFi loans are originated by SoFi Bank, N.A., NMLS #696891 (Member FDIC). For additional product-specific legal and licensing information, see SoFi.com/legal. Equal Housing Lender.
*SoFi requires Private Mortgage Insurance (PMI) for conforming home loans with a loan-to-value (LTV) ratio greater than 80%. As little as 3% down payments are for qualifying first-time homebuyers only. 5% minimum applies to other borrowers. Other loan types may require different fees or insurance (e.g., VA funding fee, FHA Mortgage Insurance Premiums, etc.). Loan requirements may vary depending on your down payment amount, and minimum down payment varies by loan type.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Checking Your Rates: To check the rates and terms you may qualify for, SoFi conducts a soft credit pull that will not affect your credit score. However, if you choose a product and continue your application, we will request your full credit report from one or more consumer reporting agencies, which is considered a hard credit pull and may affect your credit.
