Massachusetts 5% Down Jumbo: Home buyers in MA now have Jumbo mortgage options available up to 95% financing. 95% Jumbo loans have started making a comeback in recent years, with many options available to qualified buyers in 2026.
These new Jumbo options make it simple for buyers to finance luxury homes in Boston, etc that are over the 2026 Conforming loan limits. The programs offer a variety of options like fix or adjustable rates, NO mortgage insurance costs and single or combo 80/15 options.
First, it’s important to understand exactly what a Jumbo loan is. Jumbo loans are mortgages that exceed the standard loan limits of Freddie Mac and Fannie Mae. In most locations in the U.S. the conforming loan limit is $832,750 with some higher-cost locations even greater. In the past, buyers would be required to put 20% down payment if they wanted to borrow over the conforming loan limit.
The new 95% Jumbo mortgage is a great way for MA home buyers to purchase a home or refinance. This program will allow buyers to purchase a home up to $2,000,000 with only 5% down, and have the option of No monthly PMI. There are not many lenders or banks offering this program today.
Note: In addition to the options below. Military Veterans should also research the VA Jumbo program. Just click the VA Loan page under the loan programs section to learn more.
Requirements for the 95% Jumbo loans:
- All Jumbo loan programs require the buyer to have a minimum 700 credit score to be approved – unless the borrower is putting 10% + down payment. In these cases, credit scores down to 660 can be approved depending on loan amount.
- All Jumbo loan programs will require the applicants to fully document income, assets, etc. Two years of tax returns and/or W2, etc.
- All Jumbo loan programs will require the borrower to have payment reserves. The exact amount of reserves will depend on the loan amount and down payment. But 3 months reserves is generally the minimum. Reserves can come from non-liquid retirement accounts.
Boston Jumbo Program Highlights:
- The program can be used to purchase a single-family home, town home or condo.
- No mortgage insurance or PMI on most programs
- No pre-payment or early payoff penalty
- Jumbo interest rates can vary based on the term and credit score. Borrowers will choose between secure fix rate options or adjustable rate terms 5/1, 7/1, 10/1 (ARM)
- 95% Financing – available up to $2,000,000 loan amount – primary home only
- 90% Financing – available up to $2,500,000 loan amount – primary home only
- Higher loan amounts are available. Up to 85% loan to value (LTV) financing to $3,000,000 with 720+ credit score. Please contact us if you are financing over $3,500,000
Other Program Notes:
- Vacation homes are now permitted up to 95% financing
- Investments properties are also permitted with 20%+ down payment
- Land loans, lot loans, “build on your own site” financing, renovation loans – all not permitted
- Jumbo Refinance options available for those homeowners that want to reduce their interest rate, or cash out equity
Questions about applying? Please contact us by calling or submit the Request Contact form at the top of this page for expedited service.
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