Step 1
Get prequalified for a basic estimate of what you may be able to borrow.
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 at least 25% equity, 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.
Learn how these rates and APRs are calculated. Plus, see a jumbo estimated monthly payment and APR example. Get more details.
See if refinancing is right for you and how much you could save with our mortgage refinance calculator.
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:
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.
The three main advantages of a jumbo loan compared to a conforming loan are:
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.