Check out current rates for a 30-year jumbo loan.

These rates and APRs are current as of $date and may change at any time. They assume you have a FICO® Score of 740+ and a down payment of at least 25%, that the loan is for a single-family home as your primary residence and that you will purchase up to one mortgage point.

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 $700,000 loan, one point would cost you about $7,000. Connect with a mortgage loan officer to learn more about mortgage points.

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Jumbo loan calculator

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Get answers to common questions.

A jumbo mortgage is a home loan that is larger than the conforming loan limit set by the U.S. government, which is currently $726,200 in most areas of the U.S.

Every year the U.S. government sets a limit on the dollar amount for a conforming loan that they are willing to guarantee. Home loans below the limit are called conforming mortgages. Home loans above the conforming loan limit are called jumbo mortgages.

A jumbo mortgage can have a fixed rate or an adjustable rate. A 30-year jumbo mortgage will have a loan term of 30 years. Other jumbo loan options are also available.

Here’s how the U.S. government determines the conforming loan limit:

  • The Federal Housing Finance Agency (FHFA) collects information on recent mortgage transactions from Fannie Mae and Freddie Mac and determines average home values for the following year.
  • The average home value is then used to set the conforming loan limit, which is currently $726,200 in most of the U.S. If your mortgage is below $726,200, you have a conforming loan. If your mortgage is above $726,200, you have a non-conforming, or jumbo, loan.
  • In very expensive areas of the U.S., the conforming loan limit could be adjusted higher to reflect higher home values. The maximum conforming loan limit may be as much as 50% higher, currently $1,089,300.

Contact a mortgage loan officer to learn more about your loan options.

The criteria to qualify for jumbo loans are stricter than those for conforming loans.

  • Credit score: Typically, a higher credit score is required.
  • Income levels: You’ll likely be required to have a higher income.
  • Debt-to-income ratio: Your total debt should be a lower percent of your income.
  • Cash reserves: You should have assets readily available to cover two to 12 months of mortgage payments. Visit our jumbo loan calculator to estimate your monthly payment.
  • Appropriate property appraisal: As with all mortgages, the appraisal on your property must support your requested loan amount. You may be required to have a second appraisal.

The three main advantages of a jumbo loan compared to a conforming loan are:

  • Higher loan limits: If you’re approved for a jumbo loan, you can use it to purchase high-valued primary homes, investment properties and vacation homes.
  • Competitive rates: U.S. Bank offers competitive rates on 30-year terms. At times jumbo rates may even be lower than conforming loan rates.
  • A variety of loan options: Jumbo mortgages may have an adjustable rate or a fixed rate. A 30-year jumbo mortgage has a loan term of 30 years. Other jumbo loan options are also available.

Consider a jumbo loan if you need a mortgage loan amount above the conforming loan limits. The limit is currently set at $726,200 in most areas of the United States. Contact a U.S. Bank mortgage loan officer to determine which mortgage option is the best for you.

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Disclosures

Loan approval is subject to credit approval and program guidelines. Not all loan programs are available in all states for all loan amounts. Interest rate and program terms are subject to change without notice. Mortgage, home equity and credit products are offered by U.S. Bank National Association. Deposit products are offered by U.S. Bank National Association. Member FDIC.

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  1. Jumbo loans: The annual percentage rate (APR) calculation assumes a $940,000 fixed-term loan with a 25% down payment and borrower-paid finance charges of 0.862% of the loan amount, plus origination fees if applicable. If the down payment is less than 20%, mortgage insurance may be required, which could increase the monthly payment and the APR. Jumbo rates are for loan amounts exceeding $726,200 ($1,089,300 in Alaska and Hawaii).

  2. 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.

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The rates shown above are the current rates for the purchase of a single-family primary residence based on a 45-day lock period. These rates are not guaranteed and are subject to change. This is not a credit decision or a commitment to lend. Your final rate will depend on various factors including loan product, loan size, credit profile, property value, geographic location, occupancy and other factors.

To lock a rate, you must submit an application to U.S. Bank and receive confirmation from a mortgage loan officer that your rate is locked. An application can be made by calling 888-291-2334, by starting it online or by meeting with a mortgage loan officer.

Minnesota properties: To guarantee a rate, you must receive written confirmation as required by Minnesota Statute 47.206. This statement of current loan terms and conditions is not an offer to enter into an interest rate or discount point agreement. Any such offer may be made only pursuant to subdivisions 3 and 4 of Minnesota Statutes Section 47.206. 

Calculators are provided by Leadfusion. This calculator is being provided for educational purposes only. The results are estimates that are based on information you provided and may not reflect U.S. Bank product terms. The information cannot be used by U.S. Bank to determine a customer's eligibility for a specific product or service. All financial calculators are provided by the third-party Leadfusion and are not associated, controlled by or under the control of U.S. Bank, its affiliates or subsidiaries. U.S. Bank is not responsible for the content, results, or the accuracy of information.