““They were super responsive throughout the process and we got the lowest rate.”
Mariah S.
5 out of 5 stars
TrustpilotBest Online Lender 2025
Jumbo Loans: Finance a high-value home with Tomo Mortgage
Buy above conforming limits without the jumbo lender fees. Tomo Mortgage offers up to $3M in financing with no mortgage insurance required and rates that reflect your financial profile.
Jumbo loan requirements
Property types: single-family, condos, townhomes, second homes, investment
Minimum credit score: 700+
Minimum down payment: 10-20%
Maximum loan amount: up to $3,000,000
Debt-to-income ratio: 43%
If you meet these requirements, Tomo Mortgage gets you into high-value homes faster and for less than traditional jumbo lenders.
40+
licensed states
$0
lender fees
98%
on-time closing
4.8
stars on Bankrate
Why choose a jumbo loan?
Borrow what you actually need
Conforming loan limits cap out at $832,750 in most U.S. counties in 2026. If you’re buying anything above that threshold, Tomo Mortgage finances up to $3 million.
No mortgage insurance
Unlike conventional loans with less than 20% down, jumbo loans don’t require PMI. With a larger down payment baked into qualification, you skip the extra monthly cost entirely.
Flexible property and term options
Jumbo loans work for primary residences, second homes, and investment properties. Choose a fixed rate (15 or 30 years) or an adjustable rate (5, 7, or 10 years) depending on your timeline and goals.
How it works
Get pre-approved in minutes
Sync your accounts instantly - no digging through your files. Our team is available 7 days a week to help you move quickly.
Lock your rate
Found your home? Lock your rate the same day you go under contract. If rates drop 0.25% or more before closing, our float-down program adjusts your rate lower. No cost, no hassle.
Close in as little as 12 days
The market averages 45 days. In competitive markets, speed often wins.
Move in with confidence
No surprise fees at closing or last-minute rate changes. Just the home you wanted at the price we promised.
Jumbo vs. other loan types
| Benefit | Jumbo | Conventional | FHA | VA |
|---|---|---|---|---|
| Best for | High-value properties ($833K+ in most states) | Strong credit buyers | Lower credit scores | Veterans & service members |
| Minimum credit score | 700 | 620 | 580 | No minimum |
| Minimum down payment | 10-20% | 3% | 3.5% | 0% |
| Mortgage insurance | Usually not required | Removable at 20% equity | Required for the loan life | N/A |
| Property standards | Stricter appraisal requirements | Standard appraisal | Strict property requirements | VA-specific requirements |
| Loan limits for single-family | Above $832,751 | $832,750 (most areas) $1,249,125 (high-cost areas) | $541K (most areas) $1.25M (high-cost areas) | $832,750 (most areas) $1,249,125 (high-cost areas) |
Why jumbo buyers choose Tomo Mortgage
Tomo Mortgage makes sure the lender doesn't cost you extra. We offer $0 lender fees, no mortgage insurance, and a pre-approval process built to move as fast as the market does.
How to maximize your approval odds
Credit score
700+ is the standard floor for jumbo loans. Higher scores unlock better rates and more favorable terms.
Down payment
Plan for 10-20% down. Most lenders in the jumbo market require at least 20%.
Debt-to-income ratio
Keep monthly debt payments below 43% of gross income. Pay down high-interest debt before applying.
Income verification
Have 2 years of tax returns, recent pay stubs, bank statements, and documentation of any other assets ready. Jumbo lenders want a comprehensive financial picture.
Property flexibility
Single-family homes, condos, townhomes, second homes, and investment properties all qualify.
The Tomo Mortgage advantage
$0 lender fees guaranteed
Other lenders can charge 1%+ in origination fees, we charge $0 to keep real money in your pocket. On a $400K loan, that’s $2,000–$4,000 you can keep.
Close in as little as 12 days
Our digital-first process and real-time asset verification allow us to close home loans significantly faster than the industry average of 45 days.
7-day/week support
Traditional lenders make you call during business hours or make you travel to the bank. Tomo Mortgage is here when you . M-F: 8AM-8PM CT, Sat: 9AM-3PM CT, Sun: 11AM-5PM CT
30-second account verification
Linking your bank account replaces hours of paperwork. What takes other lenders 3-5 business days is instant with Tomo Mortgage.
Frequently asked questions
A jumbo loan is a mortgage that exceeds the FHFA's conforming loan limit, which is $832,750 in most U.S. counties in 2026. Because these loans can't be sold to Fannie Mae or Freddie Mac, lenders retain the risk, which means stricter requirements, including, 700+ credit score, 10-20% down, and 6-12 months of cash reserves. They're also called nonconforming loans.
In 2026, a loan becomes jumbo when it exceeds the FHFA conforming limit for that county. In most U.S. counties, that threshold is $832,750. In high-cost areas, like parts of California, New York, Colorado, and Hawaii, the conforming limit can reach $1,249,125, so the jumbo threshold is higher in those markets. Tomo Mortgage finances jumbo loans up to $3 million. Your loan officer can confirm the exact limit for your county.
No. A conventional loan is any mortgage not backed by the government. A jumbo loan is a type of conventional loan that exceeds conforming limits. The key difference: conforming conventional loans can be sold to Fannie Mae or Freddie Mac (keeping rates lower), while jumbo loans can't. Jumbo loans require higher credit scores, larger down payments, and more documentation than standard conventional loans.
Most jumbo lenders, including Tomo Mortgage, require a minimum credit score of 700. Scores of 760+ typically unlock the best available rates. Below 700 and most jumbo programs won't approve you. If your score is 620-699, a conventional loan (if your purchase price is under the local conforming limit) or FHA loan may be a better fit.
Most jumbo loans require 10-20% down. A 20% down payment is the most common requirement and eliminates any PMI consideration. Some lenders offer jumbo programs with 10-15% down for highly qualified borrowers, but expect tighter requirements in exchange. On a $1 million home, that's $100,000–$200,000 upfront. Tomo Mortgage will confirm your options at pre-approval.
Jumbo lenders typically want DTI below 43%, but some lenders go to 45% for highly qualified borrowers. DTI is total monthly debt (mortgage, car, student loans, credit cards) divided by gross monthly income. Keeping DTI under 36% gives you the best shot at approval and the best rates.
Most jumbo lenders require 6-12 months of mortgage payments in liquid reserves after closing. This is one of the key differences from conventional loans (which typically require 2-6 months). Reserves can be in checking, savings, or investment accounts, though retirement funds are often discounted. Have documentation ready before you apply.
Yes. Jumbo loans work for primary residences, second homes, and investment properties. Requirements are typically stricter for non-primary residences. Larger down payments and more reserves are common for investment properties. Talk to a Tomo Mortgage loan advisor to confirm requirements for your property type.
Tomo Mortgage is licensed in 40 states and DC:
- Alabama
- Alaska
- Arizona
- Arkansas
- California
- Colorado
- Connecticut
- District of Columbia
- Florida
- Georgia
- Idaho
- Illinois
- Indiana
- Iowa
- Kansas
- Kentucky
- Louisiana
- Maine
- Maryland
- Massachusetts
- Michigan
- Minnesota
- Mississippi
- Montana
- Nebraska
- New Jersey
- North Carolina
- North Dakota
- Ohio
- Oklahoma
- Oregon
- Pennsylvania
- South Carolina
- South Dakota
- Tennessee
- Texas
- Utah
- Virginia
- Washington
- Wisconsin
- Wyoming
Glossary of terms
Rate
Your mortgage rate is the percentage you pay to borrow money for your home. Rates change daily based on market conditions and your credit score, down payment, and location. Higher credit scores (700+) and larger down payments (20%+) qualify for lower rates. Once you lock your rate with Tomo Mortgage, it's guaranteed through closing—even if market rates increase.
APR
APR shows the true cost of your loan by including the interest rate plus fees like mortgage insurance, points, and closing costs. When comparing lenders, look for an APR close to the interest rate (within 0.25%). A big gap means high fees. With Tomo Mortgage's $0 lender fees, our APR stays close to our rate.
Closing costs
Closing costs are fees you pay to complete your home purchase, typically 2-5% of your loan amount ($8,000-20,000 on a $400,000 loan). Common costs include appraisal ($500-800), title insurance ($1,000-3,000), and inspection ($300-500). With other lenders, expect $2,000-4,000 in lender fees—Tomo Mortgage charges $0.
Points/credit
Points let you pay more upfront to lower your interest rate. One point = 1% of your loan amount. Credits give you a higher rate in exchange for the lender covering closing costs. Which makes sense depends on how long you'll stay in the home. Your Tomo Mortgage loan advisor will run the math with you.
Private Mortgage Insurance (PMI)
PMI is required on conventional loans with less than 20% down, typically costing $100-300/month. It protects the lender if you default. Unlike FHA mortgage insurance, conventional PMI is removable once you reach 20% equity—usually within 5-7 years through home appreciation—saving you thousands over the life of your loan.
Conforming loan limits
Conforming loan limits are the maximum amounts Fannie Mae and Freddie Mac will purchase from lenders. For 2026, the limit is $832,750 in most areas (up to $1,249,125 in high-cost markets). Loans within these limits get better rates because lenders can sell them, reducing their risk. Loans above these limits are called jumbo loans.
Debt-to-Income Ratio (DTI)
Your DTI is your total monthly debt payments divided by your gross monthly income. Conventional loans typically require DTI under 50%. Calculate yours: add up all monthly debts (mortgage, car, student loans, credit cards) and divide by pre-tax income. Under 43% is ideal. Over 50%? Pay down debt before applying.