Purchasing your dream home comes at a cost, and in some cases, this cost can exceed the conforming loan limits. When buying a home with a high price tag, a jumbo loan may be the best option. Qualifying for a jumbo loan can be challenging, especially considering the hefty down payment required.
With a 10% down payment, you can secure a jumbo loan that will help you achieve your homeownership dreams. In this guide, we’ll discuss Jumbo Loans with a 10% Down Payment, including the 2025 conforming loan limits, and the 90% loan-to-value jumbo mortgage qualifying requirements.
What Are Jumbo Loans?
Jumbo loans are mortgages that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. In most states, the conforming loan limit for 2025 is $806,500 for a single-family home. However, in select high-cost locations in California, Colorado, Florida, DC, etc., the limit can reach up to $1,209,750 for a 1-unit property. The conventional loan limit depends on the property location as well as the number of units in the property.
How Can Jumbo Loans Benefit Home Buyers?
A jumbo loan allows you to purchase a more expensive property that you won’t be able to obtain with a conforming loan. While jumbo loans of the past typically required a higher down payment, you won’t have to compromise on the property you want with the new low down payment options available today.
Jumbo Loans with a 10% Down Payment
A 10% down payment without paying monthly mortgage insurance (PMI) is one of the most attractive features of jumbo loans today. However, the program does come with certain qualifying criteria that must be met. For example, the current loan amount limit is generally set to $2.5m-$3m depending on property location.
This is also a full documentation mortgage loan option, which means you’ll need to provide complete information about your employment and income, including tax returns, W2s, pay stubs, and other documents. Additionally, borrowers should have a good credit history with at least two open lines of credit that have been active for the past 24 months. Finally, all applicants must fully meet the debt-to-income ratio and mortgage payment reserve requirements.
Please learn more about the program highlights on the Jumbo Mortgage Page
Conclusion:
In a competitive real estate market, Jumbo loans provide the opportunity for homeownership without compromising on the property of your dreams. With a 10% down payment, you can receive financing and enjoy a mortgage that can cater to your needs. Want to learn more? Please reach out to us by calling the number above, or just submit the Request Contact Form for a rapid response.