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11 Best Mortgage Lenders of November 2019 for Jumbo Loans

NerdWalletNovember 7, 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

Jumbo loans are for homes with prices that exceed the conforming loan limit. We'll help you choose from some of the best jumbo loan lenders of 2019.

Summary of Best Mortgage Lenders of November 2019 for Jumbo Loans

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Bank of America

Bank of America

traditional lending

680

10.01%

Read review
Guaranteed Rate

Guaranteed Rate

online experience

N/A

10%

Read review
Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

N/A

10%

at Rocket Mortgage

Reali Loans

Reali Loans

at Reali Loans

online experience

680

10%

at Reali Loans

New American Funding

New American Funding

at New American

borrowers with nontraditional credit or income

700

5%

at New American

SoFi

SoFi

at SoFi

borrowers with nontraditional credit or income

N/A

10%

at SoFi

Better.com

Better.com

at Better.com

customer service

N/A

10%

at Better.com

Fairway

Fairway

customer service

N/A

N/A

Read review
SunTrust

SunTrust

traditional lending

N/A

10.01%

Read review
Citibank Mortgage

Citibank Mortgage

jumbo lending overall

680

15%

Read review
PNC

PNC

jumbo lending overall

N/A

10.11%

Read review
LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Bank of America

Bank of America

traditional lending

680

10.01%

Read review
Guaranteed Rate

Guaranteed Rate

online experience

N/A

10%

Read review
Rocket Mortgage

Rocket Mortgage

at Rocket Mortgage

online experience

N/A

10%

at Rocket Mortgage

Reali Loans

Reali Loans

at Reali Loans

online experience

680

10%

at Reali Loans

New American Funding

New American Funding

at New American

borrowers with nontraditional credit or income

700

5%

at New American

SoFi

SoFi

at SoFi

borrowers with nontraditional credit or income

N/A

10%

at SoFi

Better.com

Better.com

at Better.com

customer service

N/A

10%

at Better.com

Fairway

Fairway

customer service

N/A

N/A

Read review
SunTrust

SunTrust

traditional lending

N/A

10.01%

Read review
Citibank Mortgage

Citibank Mortgage

jumbo lending overall

680

15%

Read review
PNC

PNC

jumbo lending overall

N/A

10.11%

Read review

Bank of America: NMLS#399802

Logo
Min. Credit Score 
680 

Min. Down Payment 
10.01% 


Why we like it

Ideal for borrowers who prefer a traditional bank. Bank of America offers a wide array of mortgages, including jumbo loans up to $5 million.

Pros

  • Allows borrowers to apply entirely online.

  • May give existing customers a discount on mortgage lender origination fees.

  • Accepts down payments of less than 20% for jumbo loans.

Cons

  • Charges an application fee of $1,170, on average.

  • Has a high volume of consumer complaints, even for a big national bank.

Read Full Review

Guaranteed Rate: NMLS#2611

Logo
National / Regional 
National 

Min. Down Payment 
10% 


Why we like it

Ideal for borrowers who are looking to apply for a mortgage and manage the process through online tools. Guaranteed Rate offers jumbo loans up to $3 million.

Pros

  • Provides a user-friendly digital platform that’s thorough in covering all types of borrowing scenarios.

  • Has a 95% customer satisfaction rate, according to company data.

Cons

  • Charges some fees, such as a $1,290 lender fee, which includes a $150 application fee.

Read Full Review
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at Rocket Mortgage

Rocket Mortgage: NMLS#3030

Logo
National / Regional 
National 

Min. Down Payment 
10% 

at Rocket Mortgage


Why we like it

Ideal for anyone who appreciates smartphone app service, support and time savings.

Pros

  • The site caters to self-service users who want to apply for a home loan without talking to a human unless it’s absolutely necessary.

  • With your authorization, accesses asset statements from 98% of U.S. financial institutions.

  • Tells you the loan amount you’ll qualify for within minutes.

  • Rocket Mortgage’s document and asset retrieval capabilities can save you a bunch of time and hassle.

Cons

  • If you’re a “look me in the eye” type of customer, you’re out of luck.

Read Full Review
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at Reali Loans

Reali Loans: NMLS#991397

Logo
Min. Credit Score 
680 

Min. Down Payment 
10% 

at Reali Loans


Why we like it

Ideal for tech-savvy home buyers and refinancers in its multi-state lending territory. Reali Loans provides jumbo loans up to $3 million.

Pros

  • Boasts of closing loans quickly.

  • No upfront origination or broker fees.

  • 24/7 access to your loan and its progress.

  • Transparent platform that automates (and shortens) the refinance process.

Cons

  • Currently operates in a limited number of states.

Read Full Review
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at New American

New American Funding: NMLS#6606

Logo
Min. Credit Score 
700 

Min. Down Payment 
5% 

at New American


Why we like it

Ideal for jumbo borrowers looking for flexible terms, including higher debt-to-income ratios or the option to include non-occupying co-signers.

Pros

  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

  • Fixed- and adjustable-rate jumbo loans available.

  • Down payments as low as 5% on jumbo loans.

Cons

  • Services not available in all 50 states.

Read Full Review
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at SoFi

SoFi: NMLS#1484615

Logo
National / Regional 
Regional 

Min. Down Payment 
10% 

at SoFi


Why we like it

Ideal for young professionals and self-employed borrowers looking for a lender that considers nontraditional income.

Pros

  • Provides an entirely digital mortgage application to make the process easier for borrowers.

  • Considers nontraditional income, such as restricted stock units, and works with self-employed borrowers.

  • Does not require private mortgage insurance for jumbo loans.

Cons

  • Doesn't offer government-backed loans, like FHA or VA.

  • Does not offer home equity loans or HELOCs.

Read Full Review
Logo

at Better.com

Better.com: NMLS#330511

Logo
National / Regional 
National 

Min. Down Payment 
10% 

at Better.com


Why we like it

Ideal for tech-savvy borrowers who prefer an online experience. Better.com provides an easy-to-navigate digital application process and charges no origination fee.

Pros

  • Claims a three-minute application process for initial preapproval.

  • For higher-value homes, offers 10% down with no mortgage insurance on jumbo loans.

  • Loan officers aren't paid commissions, they are strictly available for "support, not sales."

  • Offers an "underwriter-reviewed" preapproval letter in as little as 24 hours.

Cons

  • No physical locations, so in-person support isn't available.

Read Full Review

Fairway: NMLS#2289

Logo
National / Regional 
National 

Min. Down Payment 
N/A 


Why we like it

Ideal for borrowers who want the convenience of a comprehensive mobile application process.

Pros

  • A robust suite of loan products.

  • Licensed in all 50 states.

  • Close in as little as 10 days using the Fairway app.

Cons

  • Limited branch locations.

  • Mortgage rates not posted on website.

Read Full Review

SunTrust: NMLS#2915

Logo
National / Regional 
National 

Min. Down Payment 
10.01% 


Why we like it

Ideal for jumbo borrowers who want flexibility. SunTrust Mortgage offers a variety of jumbo financing solutions, including options with no mortgage insurance.

Pros

  • Offers a complete online suite of mortgage application tools and loan tracking.

  • Provides customer service in its physical locations, online, via chat and by phone.

  • Has a Doctor Loan Program for medical professionals who have high earning potential but little cash for down payments.

Cons

  • Has a limited number of physical branch locations in 11 states and Washington, D.C.

Read Full Review

Citibank Mortgage: NMLS#413108

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Min. Credit Score 
680 

Min. Down Payment 
15% 


Why we like it

Ideal for those looking for maximum jumbo loan amounts on the higher end: Citibank lends up to $8 million for qualified borrowers.

Pros

  • Discounts for Citibank customers.

  • Available in all 50 states.

  • Higher maximum loan amounts.

Cons

  • Charges a mortgage application fee.

  • Did not disclose origination fees, which may vary.

  • Can't complete loan online.

Read Full Review

PNC: NMLS#446303

Logo
National / Regional 
National 

Min. Down Payment 
10.11% 


Why we like it

Ideal for those looking for online application support and a variety of jumbo loan term options

Pros

  • Online tools help you estimate mortgage payments and track application progress.

  • Interest-only and cash-out jumbo options available.

  • $5 million max jumbo loan amount.

Cons

  • It's not possible to complete the entire mortgage process online.

  • Typical fees range from 3% - 5% of the loan amount

Read Full Review

Last updated on November 8, 2019

Methodology

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best Mortgage Lenders of November 2019 for Jumbo Loans