Jumbo loan rates

A jumbo loan is a mortgage that exceeds conforming loan limits, which just means they’re over a certain amount of money. These limits are set by the Federal Housing Finance Agency. You can find conforming loan limits on this FHFA map.

Since jumbo loan amounts are larger, you can expect to need better credit, more income and a larger down payment compared to conforming loans.

Unlike loans under the conforming limit, jumbo loans typically require reserves. That means when you get your loan, you need to show that you have enough funds to cover your mortgage payments for at least 6 months or more.

Jumbo loans often require more paperwork. But at Rocket Mortgage, a Jumbo Smart loan requires less documentation than many jumbo loans on the market today.

It starts with the amount you’re financing: if it’s over conforming loan limits, in most cases you’ll need a jumbo loan. In 2025, the conforming loan limit for most of the U.S. is $806,500. Then, at Rocket Mortgage you could qualify by meeting the Jumbo Smart loan guidelines.

Not really. You’ll go through the same steps as getting a mortgage that isn’t a jumbo loan. The main difference is you could need to provide more documentation, like work history and financial records, and you’ll need reserves: funds you could use to make your mortgage payment. Otherwise the steps are very similar.

• Apply to get prequalified.
• Get an offer accepted on a home.
• Go through the process of getting your mortgage.
• Close on your new home.

You should get the home loan that’s right for your situation. If you’re buying a home in the next few months, the best way to find out what’s right for you is to get prequalified and talk to a Home Loan Expert.