Low Down Payment Jumbo Mortgage

Home buyers will find all the latest Jumbo loan requirements below. Have questions or want to learn more? Just call us or submit the short Request Contact form at the top of this page to have a specialist contact you within minutes. We are proud to serve applicants nationwide from 8am-8pm, 7 days a week.

A Jumbo mortgage is defined as a loan amount greater than the industry definition of a conventional loan. These loan limit standards are set by the two largest secondary market lenders, Fannie Mae and Freddie Mac.

As of 2025, conforming loan limits are set at $806,500 for most locations across the U.S. except for select “high cost” counties in California, Florida, Colorado, Hawaii, DC, etc. These high costs locations may have conforming mortgage limits up to $1,209,750 for one-unit properties. Any mortgage amount that exceeds this will be considered a Jumbo loan.

Historically, Jumbo’s loans have always required a larger down payment from most banks and lenders. However, qualified home buyers seeking financing without the traditional 20% down do have new options available, up to 95% financing.

Years ago, conforming loan limits were increased to combat the liquidity fears in the mortgage markets due to the subprime meltdown. This has led to lower mortgage interest rates for high-balance financing.

The “Conforming Jumbo” programs have been developed and are now available in select high-cost locations. We are happy to provide the latest information on all the minimum down payment Jumbo programs nationwide.

These low down payment programs are very popular today among Doctors, Attorneys, and other professionals that have strong documented income, but limited savings. Active and past military Veterans will also be interested to learn more about special high balance VA jumbo mortgages here.

Jumbo Purchase & Rate-Term Refinance Highlights:

Jumbo loans up to 95% financing with NO mortgage insurance “PMI”
Single loan and 80-15 or 80-10 combo “piggyback” options are available depending on the property state.
Existing single-family homes, townhomes, and most low and high-rise condos are eligible.
Adjustable Rate Mortgage (3/1, 5/1, 7/1, 10/1
ARM) or Fix Rate 15, 20, and 30-year terms with competitive interest rates and zero mortgage insurance. Interest-only options are available in select cases. Negative amortization terms are not available.
Loan amounts up to $3.0M (even higher with the Super Jumbo program)
Regular home purchase and Jumbo rate & term refinance available. *See special cash-out refi options down below.

Current Jumbo Loan Limits and Credit Guidelines:

Questions? Please submit the short Request Contact form up top to quickly connect to a specialist.

95% financing: Up to $2,000,000 loan limit. *Depending on property location, Primary homes only.
- 680 credit score is required on all 95% Jumbo mortgages up to $1,250,000. 720 score required for over $1.5m. Only 5% down payment with NO monthly mortgage insurance.
90% financing: $3,000,000 loan limit.
- 10% down Jumbo requires 660 credit score for loan amounts below $1,500,000. Loan amounts that exceed $1.5m will require a 720 credit score, No PMI on all options
85% financing: $3,500,000
- 15% down Jumbo requires 660 credit score for loan amounts below $2,000,000. Loan amounts over $2.0m will require a 700 credit score, No PMI
80% financing: Options to over $4,000,000

Important Jumbo Program Reminders:

Full income and asset documentation are required for all programs.
95% LTV Jumbo programs have a $1,750,000 loan limit cap (depending on property location) and are strictly for owner-occupied. 100% financing is currently not available.
Vacation home financing is capped to 90% loan-to-value
Investment property purchase loans start at 80% loan to value.
Vacant land, Farms, Ranches, Lot loans, Renovation, Manufactured, and Commercial properties are NOT eligible. Houses on over 10 acres could require additional qualifications.
Construction-to-Permanent financing (building on your own land) is permitted but requires a minimum of 10% down payment. Please read more about special Construction-to-Permanent Financing here. The exception to this is new construction that is initially financed and being sold by a new home builder (ex: new community spec home being sold by a production builder) Transactions like this are viewed the same as existing home purchases.
U.S. properties only.
Mortgage payment reserves required after down payment and closing costs:
- Loans under $1,200,000 may require zero reserves from the home buyer, depending on the credit FICO profile.
- Loans exceeding $1.2m will require some reserves, 3–12 months, depending on the final loan amount and the applicant’s credit profile.
- Non-liquid retirement accounts like 401K and IRAs can be used to satisfy the minimum requirements.
95% financing programs are strictly reserved for home purchase and rate-term refinance transactions. This includes homeowners that want to lower their current interest rate or homeowners that want to simply change the term of their Jumbo loan. Example: switch from an adjustable rate to fix rate loan. *Homeowners inquiring about cash-out refinance should refer to the separate requirements listed below.
All financing limits are based on the final loan amount, not the sales price of the home.
No past short sales or foreclosures in the previous 5 years, regardless of credit score. *Special short-sale financing options listed below.

Jumbo Cash Out Refinance Options:

Cash-out equity refi options are available to current homeowners. Qualified applicants can pay off higher interest debt, complete a home remodel, or start a new business venture. The loan amount limits and LTV caps can vary by state. Please note, the requirements below only apply to cash-out refinance. Borrowers that are strictly reducing their interest rate and/or term should refer to the basic refinance criteria listed above.

Owner-occupied homes only
Full income and asset documentation are required for all options
Max 90% loan to value for all cash-out refi programs. *80% LTV limit for Texas
90% cash out – loan amount limit is $1,750,000
80% cash out – loan amount limit is $2,500,000
720 credit score is required when the loan to value exceeds 85%
Borrowers will often need 12 months of payment reserves (savings, 401K, IRA, etc)
Both fixed-rate and adjustable interest-rate terms are available – both with no mortgage insurance
In certain cases, buyers closing costs can be included (rolled into) to new mortgage limiting out-of-pocket costs

Additional Jumbo options for buyers with past short sale:

Home buyers with a previous short sale can now finance up to 85% loan to value. Please see the special guidelines below.

Short sale must be a minimum 2 years discharge (not filed date) clean credit post short sale required
700 credit score required
No foreclosure or bankruptcy in the previous 4 years
Minimum 12-month payment reserves required (after down payment) Retirement accounts like IRA, and 401K satisfy this request

LTV and loan amount limits: *This only applies to buyers with a previous short sale:

720 credit score – up to 85% LTV, loan limit $1,500,000, 12 months reserves
720 credit score – up to 85% LTV, loan limit $2,000,000, 18 months reserves
720 credit score – up to 75% LTV, loan limit $2,500,000, 18 months reserves

Have questions or want to discuss your options in detail? Just call us or submit the Request Contact Form here to be connected with a loan specialist, 7 days a week.

We are glad to serve buyers in high-cost markets like Chicago, Miami, San Francisco, Los Angles, San Diego, Seattle, Phoenix, Dallas, Houston, Boston, Atlanta, Miami and Charlotte.

95 Jumbo Home Loan Mortgage | Jumbo Financing