Jumbo Mortgage Loans: Rates and Limits
What is a jumbo loan?
A jumbo loan is a loan for an amount over the conforming loan limit, set by the Federal Housing Finance Agency (FHFA). In most counties, the conforming loan limit for a single-family home in 2026 is $832,750. But given rising home values in many cities, a jumbo loan may be necessary to buy a home.
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Why choose SoFi for your jumbo mortgage loan?
Competitive rates
You could find a low fixed-rate jumbo loan with SoFi in minutes and save on your monthly payments.
No PMI
Private mortgage insurance is not required on a non-conforming mortgage, regardless of your down payment amount.
Low down payment
SoFi offers down payment options as low as 10%.
Dedicated Mortgage Loan Officers
Consult one of our experienced MLOs who can guide you through the jumbo mortgage loan process.
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Jumbo loan requirements.
When qualifying for a jumbo loan from SoFi, your minimum loan amount must be $1 above your
county-specific conforming limit. Here’s what else you need to know:
Down payment
With SoFi, you could qualify for as little as 10% down. And since jumbo loans are nonconforming, there’s no PMI.
Credit score
To qualify for a jumbo loan, we require a minimum score of 720 or higher for a primary home, or higher for other property types.
Debt-to-income ratio
(DTI)
To qualify for most mortgages, you need a DTI ratio no higher than 43%. Lenders may want to see an even lower DTI ratio for a jumbo loan.
Loan-to-value ratio
(LTV)
LTV is a measure lenders use to compare the size of your loan to the value of the property you’re buying. The maximum LTV for a SoFi Jumbo Loan is 90%.
Cash reserves
Jumbo loan programs often require mortgage reserves, money, or assets borrowers could use to cover their housing costs. Some lenders may require reserves of 6 to 24 months of housing payments.
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How to apply for a jumbo loan.
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1
Prequalify without the hassle.
Find the rate that you qualify for in minutes with no commitment.
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2
Select your loan.
Find the loan that matches your financial goals and complete your jumbo loan application and the underwriting process.
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3
Get approved.
Once your documents are signed, you can close on your new home!
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Learn more about jumbo mortgage loans.
Thinking about a jumbo loan from SoFi? Dive into these articles to learn more.
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FAQs
Are jumbo mortgage loans hard to get?
Yes, they can be. Lenders have stricter requirements, often requiring higher credit scores, larger down payments, and more cash reserves.
Do you have to put 20% down on a jumbo loan?
No, some lenders offer jumbo loans with a down payment as low as 5%-10%, though 20% is a common benchmark and may get you a better rate.
What amount is considered a jumbo loan?
A jumbo loan is a loan for an amount over the conforming loan limit, which is set by the Federal Housing Finance Agency (FHFA). In most counties, the conforming loan limit for a single-family home in 2026 is $832,750. But given rising home values in many cities, a jumbo loan may be necessary to buy a home. Teton County, Wyoming, for instance, had an average home value of over $2 million and a conforming loan limit of $1,209,750 in 2025. Check out this map to see the conforming limits per county.
What’s the difference between a jumbo loan and a conventional loan?
Mortgages that conform to the dollar limits set by the Federal Housing Finance Agency (FHFA) are called conforming loans—these loans are then purchased and repackaged by Freddie Mac and Fannie Mae to give lenders the liquidity (and therefore the ability) to provide more mortgage loans. Loans that exceed the dollar limits set by the FHFA are nonconforming or jumbo loans.
The factors for approval for conforming versus jumbo loans are similar, like your debt-to-income (DTI) ratio, credit score, and down payment. But because they aren’t backed by Freddie Mac or Fannie Mae, the qualification factors are more stringent for jumbo loans because of the higher risk that the lender takes on.
You might assume that interest rates for jumbo loans are higher than for conforming loans. But jumbo loan rates fluctuate with market conditions. Lately, jumbo mortgage rates have been similar to those of other mortgages and sometimes even lower.
Other differences between jumbo and conventional mortgages are detailed here.
Does SoFi offer jumbo loan refinancing?
Yes. Check out our mortgage refinance page to find the refi option that’s right for you.
What are the benefits of a jumbo loan?
Because a jumbo loan is for an amount greater than a conforming loan, it gives you more options for ownership of homes that are otherwise cost-prohibitive.
What are the limits of a jumbo loan?
The maximum amount for a SoFi Jumbo Loan is $3 million.
Learn more: What Are Jumbo Loan Limits?
How do you qualify for a jumbo loan?
Approval for jumbo loans depends on factors such as your income, debt, savings, credit history, employment status, and the property you intend to buy. Because a jumbo loan amount is greater than a conforming loan, the standards can be more intensive.
How much is the down payment on a jumbo loan?
The down payment is as little as 10% with a SoFi Jumbo Loan.
Which states does SoFi offer jumbo loans in?
SoFi currently offers jumbo loans in all states.
Can you qualify for a jumbo mortgage loan if you already have a mortgage loan with SoFi?
You can have up to two financed properties.
See more FAQs
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jumbo mortgage loan consultation.
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jumbo mortgage loan today.
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