JUMBO LOANS
Jumbo loans are designed for buyers who need to borrow more than the standard conforming loan limits set by Fannie Mae and Freddie Mac. If you're purchasing a luxury home, high-end property, or building a custom residence, a jumbo loan may be your best path forward.
At The McDaniel Mortgage Group, we offer jumbo loan solutions tailored to meet the needs of higher-income buyers across the ten states we serve.
What Is a Jumbo Loan?
A jumbo loan is any mortgage that exceeds the conforming loan limit, which in most counties is $806,500 (as of 2024). Because they fall outside traditional lending limits, jumbo loans often have more stringent requirements — but they also offer the flexibility and power needed to finance premium properties.
Who Needs a Jumbo Loan?
Jumbo loans are ideal for buyers who:
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Are purchasing luxury homes or properties in high-cost areas
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Need to finance more than $806,500
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Have strong credit, consistent income, and significant assets
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Are building or purchasing a second home or vacation property
We’ll help you understand your purchasing power and structure a loan that aligns with your long-term goals.
Jumbo Loan Highlights
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Loan amounts exceed conforming limits
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Available for primary residences, second homes, and investment properties
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Competitive fixed or adjustable interest rates
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Customizable loan terms
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No mortgage insurance required with 20% down
What Are the Requirements?
Because of the larger loan amounts and increased lender risk, jumbo loans typically require:
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Higher credit scores (usually 700+)
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Lower debt-to-income ratios
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Larger down payments (often 10–20% or more)
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Strong financial documentation, including tax returns, W-2s, and asset verification
We’ll walk you through every step of qualification and prepare your file for fast approval.
