8 Best Mortgage Lenders of April 2023 for Jumbo Loans
Jumbo loans are for homes with prices that exceed the conforming loan limit. We'll help you find the best jumbo loan lenders of 2023.
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If you're shopping for a mortgage in a high-cost area or buying an especially expensive home, you may be looking for a jumbo loan — one that's too big to fit Fannie Mae's and Freddie Mac's requirements.
If you're in the market for a jumbo mortgage, it's essential to choose a lender with experience dealing with the special requirements of jumbo loans.
NerdWallet has picked some of the best mortgage lenders for borrowers looking for a jumbo loan in a variety of categories so you can quickly determine which one is right for you.
Best Mortgage Lenders of April 2023 for Jumbo Loans
National / regional
Min. down payment
Best for credit union lending
Bank of America: NMLS#399802
Best for volume of jumbo lending
Bethpage Federal Credit Union: NMLS#449104
Best for low jumbo origination fees
Best for rate transparency
Best for digital convenience
5.0/5Best for rate transparency
4.5/5Best for variety of jumbo loan options
Wells Fargo: NMLS#399801
4.5/5Best for jumbo lending overall
- Low- or no-down-payment options with no mortgage insurance.
- Offers a home equity line of credit, or HELOC.
- Mortgages are available for non-warrantable condominiums.
- Doesn't offer government-backed mortgages, like FHA or VA loans.
- Mortgage origination fees are on the high side, according to the latest federal data.
- Offers down payment and closing cost assistance programs.
- May give existing customers a discount on mortgage lender origination fees and HELOC interest rates.
- Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
- Doesn't offer renovation loans that roll costs into a mortgage.
- Offers a full array of online conveniences, including loan process updates.
- Offers financing for cooperatives, a type of home that’s common on the East Coast.
- Sample mortgage rates available for a variety of loan products.
- In-person service available only in Queens and on Long Island, New York.
- USDA loans are not available.
- Customized rates not available online.
- Offers a wide range of loan types and products, including FHA, VA and USDA.
- Borrowers can apply and track loan status online.
- Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable.
- Home equity loans are geographically limited.
- Origination fees are on the high side compared with other lenders, according to the latest federal data.
- Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots.
- Offers low rates and fees compared with other lenders, according to the latest Federal data.
- Displays customized rates, with fee estimates, without requiring contact information.
- HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.
- Offers a wide variety of loan products, including government-backed and refinance options.
- Displays custom rate quotes based on home value, down payment or equity, ZIP code and credit score range.
- “Lock & Shop” lets you secure a rate for up to 60 days, even if you don’t have a purchase contract yet.
- Origination fees are on the higher end, according to the latest federal data.
- Doesn't offer home equity lines of credit or renovation loans.
- Online tools help you estimate mortgage payments and track application progress.
- Can be used for primary or second home purchases.
- $5 million max jumbo loan amount.
- Doesn't offer renovation mortgages.
- In-person service is not available in every state.
- Sample rates clearly posted for various loan products.
- Offers a wide variety of loan types and products.
- Mortgage rates tend to be on the low side compared with other lenders, according to the latest federal data.
- Home loans business is broadly focused on bank customers.
- Doesn’t offer home improvement loans, or home equity loans or lines of credit.
- Scandals and government actions have damaged consumer trust in recent years.
Understanding jumbo loan limits
Jumbos are examples of nonconforming loans — conventional mortgages that exceed the loan limits set by the Federal Housing Finance Agency or fall outside underwriting guidelines established by Fannie Mae and Freddie Mac.
Loan limits for conforming loans vary; they are highest in the country’s most expensive areas. In 2023, the limits for conforming loans are:
$726,200 for a single-family home in most areas of the U.S.
Up to $1,089,300 for high-cost areas, such as San Francisco or Virginia’s Arlington County.
Borrowers seeking mortgages above those amounts will need to consider jumbo loans.
More from NerdWallet
Last updated on March 23, 2023
The star ratings on this page reflect each lender's performance in NerdWallet’s jumbo loans category. We scored the category and chose lenders for this page using the following methodology:
NerdWallet reviewed more than 50 mortgage lenders, including the majority of the largest U.S. mortgage lenders by annual loan volume (measured among lenders with at least a 1% market share), lenders with significant online search volume and those that specialize in serving various audiences across the country.
All reviewed mortgage lenders that offer jumbo loans were evaluated based on (1) the portion of their business dedicated to jumbo loans, (2) the minimum down payment allowed, (3) their jumbo origination fees, (4) the range of jumbo loan types offered, (5) their rate transparency, and (6) the ease of their online application. The highest scoring lenders appear on this page.
NerdWallet solicits information from reviewed lenders on a recurring basis throughout the year. All lender-provided information is verified through lender websites and interviews. We also utilized 2021 HMDA data for origination volume, origination fee, average interest rate and share-of-product data.
NerdWallet's Best Mortgage Lenders of April 2023 for Jumbo Loans
- Alliant: Best for credit union lending
- Bank of America: Best for volume of jumbo lending
- Bethpage Federal Credit Union: Best for low jumbo origination fees
- Flagstar: Best for rate transparency
- NBKC: Best for digital convenience
- Pennymac: Best for rate transparency
- PNC: Best for variety of jumbo loan options
- Wells Fargo: Best for jumbo lending overall