Benefits and Considerations
Higher Purchase Limits
Jumbo mortgages can exceed the conforming loan limit, currently $424,100 in most parts of the United States.
Jumbo loan rates have reached historic lows in recent years, and the interest on loans up to $1 million may be tax-deductible.
Many jumbo mortgage lenders may allow you to take out a second mortgage for a combined loan-to-value ratio of up to 90 percent.