Jumbo Loan

About this program

How it works — step by step

1. 1

   Take the 60-second check-in

   Five questions about your income structure, target loan amount, and credit. Jumbo is both a loan size and a program type — the matcher checks whether conventional jumbo documentation qualifies you, or whether a jumbo Non-QM alternative better fits your income.

2. 2

   Determine your documentation path

   Conventional jumbo borrowers need two years of tax returns, strong credit (720+), and 12–24 months of reserves. Jumbo Non-QM borrowers can qualify on 24 months of bank statements — useful when write-offs depress tax-return income below the conforming threshold.

3. 3

   Licensed MLO structures the jumbo file

   Jumbo loans are portfolio products — lenders keep them on their books. Program overlays vary significantly by lender. A Sunrise officer identifies which jumbo portfolio lender matches your income documentation, property type, and reserve profile.

4. 4

   Portfolio underwriting

   Jumbo files are manually underwritten by the portfolio lender. Credit, reserves, income documentation, and property appraisal all receive heightened scrutiny vs. conforming. The officer coordinates the file and manages lender communication.

5. 5

   Close and fund

   Jumbo loans typically take 30–60 days — longer than conforming due to manual underwriting, higher appraisal complexity, and multiple reviewer sign-offs. The officer sets expectations at the start.

What it usually looks like

• Loan amount above conforming limit ($766,550 standard; $1,149,825 high-cost as of 2026)
• Credit score typically 700–720+ (higher than conforming; varies by jumbo program)
• Down payment typically 10–20% for primary; 20–30% for investment
• 12–24 months of liquid reserves post-close (higher than conforming)
• Full documentation: two years of tax returns for conventional jumbo; bank statements for jumbo Non-QM
• Debt-to-income ratio typically ≤ 43% (some portfolio lenders more flexible)
• Property appraisal often requires two independent appraisals on higher loan amounts
• Gift funds restricted or not permitted on most jumbo programs

How it compares

Program terms, LTV limits, and documentation requirements vary by lender. As of June 2026. Not a commitment to lend.

Real scenarios

Who this fits

• Mortgage for a Startup Founder

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• Mortgage for an Established SMB Owner

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• Mortgage for a Dual-Income Household

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Common questions

What is a jumbo loan?

A mortgage that exceeds the conforming loan limits set by FHFA — currently $766,550 in most areas and up to $1,149,825 in high-cost metros as of 2026. Jumbo loans cannot be sold to Fannie Mae or Freddie Mac; lenders hold them in portfolio, which means stricter underwriting.

Can a self-employed borrower get a jumbo loan?

Yes — two paths. Conventional jumbo uses tax-return documentation and requires strong income on paper. Jumbo Non-QM uses bank statements or asset depletion — critical for business owners whose write-offs depress tax-return income below the jumbo bar.

What credit score is required for a jumbo loan?

Most jumbo programs require 700–720+. Portfolio lenders have their own overlays, and requirements differ between conventional jumbo and jumbo Non-QM. The check-in asks for your score band; the matcher narrows to programs your credit qualifies for.

How much in reserves is required for a jumbo loan?

Typically 12–24 months of PITIA in liquid reserves post-close — significantly more than conforming. Reserves can be in cash, brokerage, or retirement accounts (with haircut). Some jumbo programs require reserves in addition to the down payment.

What is the jumbo loan limit in 2026?

Jumbo starts above the FHFA conforming limit: $766,550 in standard areas and $1,149,825 in designated high-cost counties as of 2026. Anything above these amounts requires a jumbo or portfolio program.

Is a jumbo rate always higher than conforming?

Typically yes, because jumbo loans are held in portfolio (not sold to Fannie/Freddie) and carry more lender risk. The spread varies — some jumbo programs are very competitive when borrower profile is strong. Your officer prices both on the same day for comparison.

Can I use a jumbo loan to buy investment property?

Yes, on portfolio jumbo programs. Most require 20–30% down on investment properties. For large investment properties where rental income is the primary qualifier, a jumbo DSCR program may be a better fit than a standard jumbo.

Are there jumbo programs for asset-rich borrowers with low income?

Yes — jumbo asset depletion programs qualify high-net-worth borrowers on liquid assets rather than earned income. Common for founders, retired operators, or tech executives with significant equity or brokerage holdings.