Today’s Current Jumbo Mortgage Rate Search

Jumbo Mortgages

What is a Jumbo Mortgage?  A Jumbo mortgage is a non-conforming mortgage used to purchase real estate. A Jumbo mortgage is needed for loan amounts over the conforming loan limit of $453,100 and $679,650 in high-cost areas. If you need to take out a loan over the conforming limit, a fixed or adjustable rate jumbo mortgage could be your ticket to a big and beautiful home.

Jumbo loans are ineligible for purchase by Fannie Mae or Freddie Mac as the loan amount is higher than the amount that Fannie Mae and Freddie buy and must be sold in the secondary market.  The secondary market is made of of private companies, hedge funds and private investors with little to no government guarantees.  Jumbo loans almost always require more stringent credit guidelines and larger down payments than conforming loans.

Major players in the Jumbo market include Wells Fargo Mortgage, JPMorgan Chase Mortgage, CitiMortgage, Bank of America and US Bank Mortgage and several others.  Using a large mortgage broker like Guaranteed Rate can give you access to most of the large Jumbo players and allow you to shop rates with only one credit pull.

FHA Jumbo Mortgage Loans


FHA is required by the National Housing Act, to set Single Family forward loan limits at 115% of median house prices, subject to a floor and a ceiling on the limits. FHA calculates forward mortgage limits by Metropolitan Statistical Area and county.  Many metropolitan area’s have significantly higher “average” priced home and in these areas, the FHA loan limit is adjusted accordingly.

FHA increased loan limits for 3,011 counties for 2018.  This is a

In high-cost areas, the FHA’s loan limit ceiling will increase to $679,650, up from $636,150 this year.  Their are only two area’s that have an FHA Jumbo Loan limit higher that $679,650 and both are in Hawaii.

“Special exception” areas are places that have higher construction costs. These areas include Alaska, Hawaii, Guam, and the Virgin Islands. In 2018, these four special-exception areas have a higher FHA loan limit ceiling of $1,019,475 for a 1 unit home.