Compare Today's Jumbo Mortgage Rates

What is a jumbo mortgage?

A jumbo mortgage is a home loan above the conforming loan limit, which is $766,550 in most counties in 2024. The conforming limit is greater in some counties with high housing costs, up to $1,149,825 in 2024. Mortgages for more than the conforming limit are jumbo loans.

NerdWallet’s conforming loan limit tool can help you identify whether you’ll need a jumbo loan.

» MORE: Calculate how much house you can afford

Jumbo loan requirements

In order to qualify for a jumbo loan with the widest range of lenders, you should meet the following minimum requirements:

• Credit score of at least 700, though individual lenders may require this to be higher. 

• Debt-to-income ratio (DTI) no higher than 45%, meaning that your debts (including housing costs) make up no more than 45% of your income. Some lenders prefer this ratio below 36%. 

• Down payment of 10% or more. This is set by individual lenders, and some may require as much as 20%. 

• Cash reserves to cover several months of mortgage payments, up to one full year. 

How to find jumbo mortgage rates today

NerdWallet’s mortgage rate tool can help you find today’s competitive jumbo mortgage rates. In the comparison section above, enter the purchase price and down payment. (The loan amount, not the purchase price, should be above the conforming loan limit for a jumbo loan.) After clicking “Update results,” you can see jumbo mortgage interest rate quotes without providing personal information.

Jumbo mortgage rates vary by lender

Jumbo mortgages don't have to abide by some of the restrictions that are imposed on conforming loans. Each lender has leeway to offer its unique combination of interest rate and fees. For that reason, it is vital to shop and compare offers.

After you apply, each lender will provide you with a Loan Estimate, which is a three-page document that details the interest rate, origination fees and closing costs. Comparing Loan Estimates from more than one lender will give you confidence that you’re getting the right loan for your situation.

Should you consider a jumbo mortgage?

You should consider a jumbo mortgage if you’re buying a home that exceeds the conforming loan limit in your area and are in a position to qualify for the more stringent requirements a jumbo loan will carry.

Jumbo loan pros and cons

How to find a jumbo loan lender

Shopping around with at least three lenders will give you the best chances of finding the lowest rate. NerdWallet’s list of the best jumbo loan lenders can be a great place to start your search.

Learn more about jumbo mortgages: