| Term | 30-year fixed - jumbo |
| Rate | |
| APR Annual Percentage Rate (APR) represents the true yearly cost of your loan, including any fees or costs in addition to the actual interest you pay to the lender. The APR may be increased after the closing date for adjustable-rate mortgage (ARM) loans. |
|
| Points Mortgage points, or discount points, are a form of prepaid interest you can choose to pay up front in exchange for a lower interest rate and monthly payment. One mortgage point is equal to about 1% of your total loan amount, so on a $250,000 loan, one point would cost you about $2,500. |
| Term | 20-year fixed - jumbo |
| Rate | |
| APR Annual Percentage Rate (APR) represents the true yearly cost of your loan, including any fees or costs in addition to the actual interest you pay to the lender. The APR may be increased after the closing date for adjustable-rate mortgage (ARM) loans. |
|
| Points Mortgage points, or discount points, are a form of prepaid interest you can choose to pay up front in exchange for a lower interest rate and monthly payment. One mortgage point is equal to about 1% of your total loan amount, so on a $250,000 loan, one point would cost you about $2,500. |
| Term | 15-year fixed - jumbo |
| Rate | |
| APR Annual Percentage Rate (APR) represents the true yearly cost of your loan, including any fees or costs in addition to the actual interest you pay to the lender. The APR may be increased after the closing date for adjustable-rate mortgage (ARM) loans. |
|
| Points Mortgage points, or discount points, are a form of prepaid interest you can choose to pay up front in exchange for a lower interest rate and monthly payment. One mortgage point is equal to about 1% of your total loan amount, so on a $250,000 loan, one point would cost you about $2,500. |
| Term | Rate | APR Annual Percentage Rate (APR) represents the true yearly cost of your loan, including any fees or costs in addition to the actual interest you pay to the lender. The APR may be increased after the closing date for adjustable-rate mortgage (ARM) loans. |
Points Mortgage points, or discount points, are a form of prepaid interest you can choose to pay up front in exchange for a lower interest rate and monthly payment. One mortgage point is equal to about 1% of your total loan amount, so on a $250,000 loan, one point would cost you about $2,500. |
|---|---|---|---|
| 30-year fixed - jumbo | |||
| 20-year fixed - jumbo | |||
| 15-year fixed - jumbo |
What is a jumbo mortgage loan?
Jumbo mortgages are home loans that exceed conforming loan limits. A jumbo loan is one way to buy a high-valued or luxury home. Borrowers are required to have a low debt-to-income ratio and a high credit score.
The limit on conforming loans is $726,200 in most areas of the country, but jumbo mortgages can exceed these limits. If you’re considering buying a high-valued or luxury home, a jumbo loan may be right for you.
Keep in mind that if the home you are considering is in a high-cost area, you may still be able to obtain a conforming fixed-rate mortgage or adjustable-rate mortgage for up to $1,089,300.
Contact a mortgage loan officer to determine which mortgage loan is right for your particular needs and to learn more about jumbo loans and jumbo mortgage rates.
Benefits and considerations of jumbo loans
Higher purchase limits
Jumbo mortgages can exceed the conforming loan limit, currently $726,200 in most parts of the United States.
Competitive rates
Jumbo loan rates have reached historic lows in recent years, and interest on the first $1,089,300 of the mortgage may be tax-deductible.2 U.S. Bank offers 15-, 20- and 30-year options. Check out today’s 30-year jumbo rates.
Jumbo loan requirements and qualifications
- Credit history - To qualify for a jumbo mortgage loan, the borrower must have very good credit, which generally means a FICO score of 740 or higher. There are also established guidelines for income and other personal financial information.
- Financial strength - The borrower must have a debt-to-income ratio below 45% to qualify for a jumbo mortgage loan.
- Property appraisal - The property appraisal must support the purchase price for the home and the mortgage the borrower wants.
Compare your mortgage options to learn more, or contact a mortgage loan officer to find out whether a jumbo loan may be the right mortgage loan for your particular needs.
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