Today's average rate
30-year fixed rate:APR 6.497%
-0.03%
Today
-0.41%
Over 1y
15-year fixed rate:APR 5.701%
-0.01%
Today
-0.41%
Over 1y
5-year ARM rate:APR 7.247%
+0.01%
Today
-0.69%
Over 1y

Compare Today's Jumbo Mortgage Rates

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Why do you want a home loan?
Showing: Purchase, Good (720-739), 30-year fixed, Single family home, Primary residence
Showing: Purchase, Good (720-739), 30-year fixed, Single family home, Primary residence
License information

9 results:

30-year fixed

Tomo: NMLS#2059741
Tomo
4.0
Lowest APR
Lowest monthly payment
Great for Mortgage rate transparencyConventional 30-year fixed
APR
5.956%
Interest rate
5.75%
Mo. payment
$3,502
Insurance $0
Total fees
$13,200
EXPLORE QUOTEon Tomo
on Tomo
About this lender
Visit lender's website
Pros
  • Special program offers a pricing break for first first-time home buyers.
  • Offers financing options for self-employed borrowers and those without Social Security numbers.
  • Interactive mortgage rates tool takes credit score and location into account.
Cons
  • Purchase loans are not available in all states.
  • Doesn’t offer home equity loans or lines of credit.
  • No refinancing options are available.
TomoTomo: NMLS#2059741
4.0
Lowest APR
Lowest monthly payment
Great for Mortgage rate transparencyConventional 30-year fixed
APR
5.956%
Interest rate
5.75%
Mo. payment
$3,502
Insurance $0
Total fees
$13,200
About this lender
Pros
  • Special program offers a pricing break for first first-time home buyers.
  • Offers financing options for self-employed borrowers and those without Social Security numbers.
  • Interactive mortgage rates tool takes credit score and location into account.
Cons
  • Purchase loans are not available in all states.
  • Doesn’t offer home equity loans or lines of credit.
  • No refinancing options are available.
Simplist: NMLS#1764611
Simplist
4.5
Conventional 30-year fixed
APR
6.123%
Interest rate
5.99%
Mo. payment
$3,594
Insurance $0
Total fees
$8,448
About this lender
Pros
  • Loan origination process can be completed online.
  • Offers government-backed FHA and VA loans.
  • Offers module that compares mortgage rates among other lenders.
Cons
  • Offers loans in many states and Washington, D.C., but not nationwide.
  • Does not offer home equity loans or lines of credit.
SimplistSimplist: NMLS#1764611
4.5
Conventional 30-year fixed
APR
6.123%
Interest rate
5.99%
Mo. payment
$3,594
Insurance $0
Total fees
$8,448
About this lender
Pros
  • Loan origination process can be completed online.
  • Offers government-backed FHA and VA loans.
  • Offers module that compares mortgage rates among other lenders.
Cons
  • Offers loans in many states and Washington, D.C., but not nationwide.
  • Does not offer home equity loans or lines of credit.
Better: NMLS#330511
Great for digital convenienceConventional 30-year fixed
APR
6.141%
Interest rate
6%
Mo. payment
$3,598
Insurance $0
Total fees
$8,976
About this lender
Pros
  • Borrowers can apply, lock in a rate and receive a commitment letter within one day.
  • Offers both HELOCs and home equity loans with a high borrowing limit of 90% CLTV.
  • Offers mortgages for manufactured homes, as well as financing for self-employed borrowers.
Cons
  • No mobile app; customer service is by email or phone only.
  • Borrower must provide contact information to see customized rates.
  • Does not offer renovation or construction loans.
BetterBetter: NMLS#330511
Great for digital convenienceConventional 30-year fixed
APR
6.141%
Interest rate
6%
Mo. payment
$3,598
Insurance $0
Total fees
$8,976
About this lender
Pros
  • Borrowers can apply, lock in a rate and receive a commitment letter within one day.
  • Offers both HELOCs and home equity loans with a high borrowing limit of 90% CLTV.
  • Offers mortgages for manufactured homes, as well as financing for self-employed borrowers.
Cons
  • No mobile app; customer service is by email or phone only.
  • Borrower must provide contact information to see customized rates.
  • Does not offer renovation or construction loans.
First Federal Bank: NMLS#408902
Conventional 30-year fixed
APR
6.515%
Interest rate
6.5%
Mo. payment
$3,793
Insurance $0
Total fees
$919
About this lender
Pros
  • Over 40% of all loans last year were FHA, VA or USDA loans.
  • Average mortgage rates are on the lower side, according to the latest federal data.
  • Offers 15-, 20-, 25-, and 30-year repayment terms, which is unusually flexible.
Cons
  • No dedicated mobile app for mortgage borrowers.
  • Some loans (including home equity products) are geographically limited.
First Federal BankFirst Federal Bank: NMLS#408902
Conventional 30-year fixed
APR
6.515%
Interest rate
6.5%
Mo. payment
$3,793
Insurance $0
Total fees
$919
About this lender
Pros
  • Over 40% of all loans last year were FHA, VA or USDA loans.
  • Average mortgage rates are on the lower side, according to the latest federal data.
  • Offers 15-, 20-, 25-, and 30-year repayment terms, which is unusually flexible.
Cons
  • No dedicated mobile app for mortgage borrowers.
  • Some loans (including home equity products) are geographically limited.
New American Funding: NMLS#6606
Great for first-time home buyers | customer serviceConventional 30-year fixed
APR
6.516%
Interest rate
6.49%
Mo. payment
$3,789
Insurance $0
Total fees
$1,629
About this lender
Call (888) 978-8131|
Pros
  • Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
  • Its home equity line of credit can be used for a primary residence or second home.
Cons
  • Average origination fees are on the high side, according to the latest federal data.
  • Personalized mortgage rates are not available on the website without providing contact information.
New American FundingNew American Funding: NMLS#6606
Great for first-time home buyers | customer serviceConventional 30-year fixed
APR
6.516%
Interest rate
6.49%
Mo. payment
$3,789
Insurance $0
Total fees
$1,629
Pros
  • Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
  • Its home equity line of credit can be used for a primary residence or second home.
Cons
  • Average origination fees are on the high side, according to the latest federal data.
  • Personalized mortgage rates are not available on the website without providing contact information.
NBKC: NMLS#409631
Great for first-time home buyers | digital convenience | customer serviceConventional 30-year fixed
APR
6.525%
Interest rate
6.5%
Mo. payment
$3,793
Insurance $0
Total fees
$1,563
Pros
  • Mortgage rates are on the low side compared to other lenders, according to the latest federal data.
  • VA loans represent more than a quarter of purchase volume, a larger share than many lenders NerdWallet reviews.
  • Offers a variety of loan types for purchase and refinance, including fixed- and adjustable-rate loans and government options
Cons
  • HELOCs and no-down-payment loans are available only in the Kansas City metro area.
  • Mobile app focuses on online banking, not mortgages.
  • You’ll need to share contact information to see customized mortgage rates.
NBKCNBKC: NMLS#409631
Great for first-time home buyers | digital convenience | customer serviceConventional 30-year fixed
APR
6.525%
Interest rate
6.5%
Mo. payment
$3,793
Insurance $0
Total fees
$1,563
Pros
  • Mortgage rates are on the low side compared to other lenders, according to the latest federal data.
  • VA loans represent more than a quarter of purchase volume, a larger share than many lenders NerdWallet reviews.
  • Offers a variety of loan types for purchase and refinance, including fixed- and adjustable-rate loans and government options
Cons
  • HELOCs and no-down-payment loans are available only in the Kansas City metro area.
  • Mobile app focuses on online banking, not mortgages.
  • You’ll need to share contact information to see customized mortgage rates.
Central Bank: NMLS#407985
Central Bank
4.0
Conventional 30-year fixed
APR
6.624%
Interest rate
6.624%
Mo. payment
$3,842
Insurance $0
Total fees
$0
About this lender
Pros
  • Among the best when it comes to online convenience.
  • Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
  • Claims to offer preapproval within 24 hours of loan application.
Cons
  • You'll have to complete a loan application to see mortgage interest rates.
  • Bank branch locations limited to the Midwest.
  • Does not offer home equity lines of credit.
Central BankCentral Bank: NMLS#407985
4.0
Conventional 30-year fixed
APR
6.624%
Interest rate
6.624%
Mo. payment
$3,842
Insurance $0
Total fees
$0
About this lender
Pros
  • Among the best when it comes to online convenience.
  • Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
  • Claims to offer preapproval within 24 hours of loan application.
Cons
  • You'll have to complete a loan application to see mortgage interest rates.
  • Bank branch locations limited to the Midwest.
  • Does not offer home equity lines of credit.
Mutual of Omaha: NMLS#1025894
Mutual of Omaha
3.5
Great for Loan varietyConventional 30-year fixed
APR
6.625%
Interest rate
6.625%
Mo. payment
$3,842
Insurance $0
Total fees
-$2,028
About this lender
Pros
  • Offers a variety of mortgage options, including jumbo loans and FHA, VA and USDA loans.
  • Offers $3,000 grant to buyers in some areas.
  • Loans are available for construction, renovations and manufactured homes.
Cons
  • You’ll have to contact the lender for mortgage rates.
  • Doesn’t offer mortgages in all 50 states.
  • Home equity loans and lines of credit are not available.
Mutual of OmahaMutual of Omaha: NMLS#1025894
3.5
Great for Loan varietyConventional 30-year fixed
APR
6.625%
Interest rate
6.625%
Mo. payment
$3,842
Insurance $0
Total fees
-$2,028
About this lender
Pros
  • Offers a variety of mortgage options, including jumbo loans and FHA, VA and USDA loans.
  • Offers $3,000 grant to buyers in some areas.
  • Loans are available for construction, renovations and manufactured homes.
Cons
  • You’ll have to contact the lender for mortgage rates.
  • Doesn’t offer mortgages in all 50 states.
  • Home equity loans and lines of credit are not available.
Rocket Mortgage, LLC: NMLS#3030
Great for digital convenience | customer serviceConventional 30-year fixed
APR
7.396%
Interest rate
7.375%
Mo. payment
$4,145
Insurance $0
Total fees
$1,250
About this lender
Pros
  • Reported average time to close is 15 days faster than industry average.
  • FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
  • Borrowers can apply via mobile app.
Cons
  • Origination fees are on the higher end, according to the latest federal data.
  • No construction or renovation loans.
  • Physical branches are only available in Detroit, Cleveland, and Phoenix.
Rocket Mortgage, LLCRocket Mortgage, LLC: NMLS#3030
Great for digital convenience | customer serviceConventional 30-year fixed
APR
7.396%
Interest rate
7.375%
Mo. payment
$4,145
Insurance $0
Total fees
$1,250
About this lender
Pros
  • Reported average time to close is 15 days faster than industry average.
  • FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
  • Borrowers can apply via mobile app.
Cons
  • Origination fees are on the higher end, according to the latest federal data.
  • No construction or renovation loans.
  • Physical branches are only available in Detroit, Cleveland, and Phoenix.

About These Rates: The lenders whose rates appear on this table are NerdWallet’s advertising partners. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender’s site. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner’s assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.


A Beginner’s Guide to Jumbo Mortgages
Last updated on September 6, 2024
Written by 
Taylor Getler
Writer
Michelle Blackford
Reviewed by 
Jeanette Margle
Edited by 
Jeanette Margle
Lead Assigning Editor
Fact Checked
Taylor Getler
Written by 
Writer
Michelle Blackford
Reviewed by 
Jeanette Margle
Edited by 
Jeanette Margle
Lead Assigning Editor
Fact Checked

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

Pros

  • Jumbo loans provide a way to finance homes that exceed the limit imposed on conventional loans. 
  • Interest rates are often competitive with — and can even be lower than — conventional rates. 

Cons

  • Stricter requirements to qualify. 
  • Not offered by all lenders. 

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:

Frequently asked questions

  • Are jumbo loan rates higher?

    Jumbo loans don’t necessarily have higher rates than conventional loans — in fact, they can be lower. Jumbo loans have much stricter qualification standards, meaning that these borrowers, with their high credit scores and substantial cash reserves, are a safer bet for lenders.

  • A 10% down payment is often a minimum requirement for getting a jumbo loan. However, this varies by lender, and some will want a higher amount (as much as 20% in some cases). This can be affected by your borrower profile, including your credit score, debt-to-income ratio and cash reserves.


About the author: Taylor Getler is a home and mortgages writer for NerdWallet. Her work has been featured in outlets such as MarketWatch, Yahoo Finance, MSN and Nasdaq. Taylor is enthusiastic about financial literacy and helping consumers make smart, informed choices with their money. Email: [email protected].

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30-year-fixed mortgage rates