Jumbo Loans

Larger Loan Amounts With Competitive Rates & Flexible Terms

Jumbo Loans are designed for borrowers purchasing high-value or luxury homes that exceed conventional conforming loan limits. These mortgages offer competitive rates, flexible terms, and the ability to finance larger loan amounts without compromising on property type or location.

With more than 20+ years of mortgage experience, Jesse Schwager helps buyers and homeowners across Pennsylvania, New Jersey, Delaware, Virginia, and Maryland navigate the increased requirements of Jumbo financing and secure a loan structure that aligns with their financial goals.

What Are Jumbo Loans?

Jumbo Loans are mortgages that exceed the conforming loan limits set annually by the Federal Housing Finance Agency (FHFA). Because they are not eligible for purchase by Fannie Mae or Freddie Mac, lenders take on additional risk, meaning underwriting guidelines are more detailed and borrower qualifications are typically higher.

These loans are ideal for financing luxury homes, properties in high-cost markets, or larger single-family homes that surpass conforming limits.

Benefits of Jumbo Loans

Higher Loan Amounts: Finance homes that exceed conforming limits, often into the multi-million-dollar range.

Competitive Interest Rates: Well-qualified borrowers may receive rates comparable to conventional loans, sometimes even lower.

Flexible Loan Terms: Choose from fixed-rate or adjustable-rate mortgage structures.

Large Property Types Allowed: Jumbo loans support high-end homes, multi-acre properties, and high-cost area purchases.

No Private Mortgage Insurance Above Certain Thresholds: Some lenders offer PMI-free options at lower down payments.

Who Should Consider a Jumbo Loan?

You may benefit from a Jumbo Loan if:

You’re purchasing a home priced above conforming loan limits

You have significant income, assets, or reserves

You want competitive rates with luxury-level financing

You're buying in a high-cost area

You need more borrowing power for your real estate goals

Jumbo Loan Requirements

Because Jumbo Loans are non-conforming, lenders typically use higher qualification standards.

Credit Score: Commonly 700+ for best rates; some lenders may allow 680 depending on the loan structure.

Down Payment: Typically 10%–20%+, depending on the loan amount and borrower profile.

Debt-to-Income Ratio (DTI): Usually capped at 43%, though lower DTIs are preferred for large loans.

Asset & Reserve Requirements: Borrowers often need several months of mortgage reserves, sometimes 6–12 months.

Income Documentation: Detailed income verification, including tax returns, W-2s, K-1s, and asset statements.

Property Appraisals: High-value homes often require two appraisals or enhanced valuation reports.

Types of Jumbo Loans

Fixed-Rate Jumbo Loans: Stable payments ideal for long-term homeowners.

Adjustable-Rate Jumbo Mortgages (Jumbo ARM): Lower introductory rates for borrowers planning shorter ownership periods.

Jumbo Purchase Loans: Tailored to high-cost or luxury home purchases.

Jumbo Refinance Loans: Refinance large balances to reduce payments or restructure terms.

Jumbo Loan vs. Conventional Loan

Jumbo Loans may be better when:
You need a loan above conforming limits
You’re buying a high-value property
You have strong credit and financial reserves
You want competitive rates at larger amounts
Conventional Loans may be better when:
Your home price falls within conforming limits
You want lower down payment options
You prefer easier qualification standards

Jesse helps you compare both options and choose the right loan for your long-term plans.

Refinancing With a Jumbo Loan

Homeowners with high loan balances often refinance Jumbo Loans to:

Lower Monthly Payments: Refinance into a better rate or longer term.

Switch From ARM to Fixed: Lock in long-term financial stability.

Cash-Out Refinance: Tap home equity for investments, renovations, or major purchases.

Improve Loan Structure: Restructure payment terms or adjust the loan profile based on new financial goals.

Why High-Value Borrowers Choose Jesse Schwager

20+ years of mortgage lending expertise

Experience with high-value and luxury home financing

Deep understanding of complex underwriting requirements

Direct communication and transparent loan comparison

Personalized strategies for high-income borrowers

Smooth, timely closings for large mortgage transactions

Jesse ensures complex Jumbo financing feels simple, structured, and stress-free.

Get Pre-Approved for a Jumbo Loan

Your Path to Secure, Stress-Free Home Financing Starts Here

Whether you’re purchasing a luxury home, investing in a high-priced property, or refinancing a large loan balance, Jumbo financing may give you the strength you need to achieve your goals.
Start your Jumbo Loan pre-approval today with a trusted mortgage professional.

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