Jumbo Loan Requirements

Jumbo loans are used for mortgage loans over $424,100. A strong FICO score, generally 680 or better, is required to qualify for a jumbo loan. Lenders will also take a closer look at your credit profile; many will want to see a debt-to-income ratio under 40-43%. Jumbo loans typically require more extensive documentation, especially if you are self-employed. Lenders may want to see six to twelve months of reserve payments, as opposed to two to four for a conventional loan.

Jumbo loans typically require a down payment of 15% or more, although a smaller down payment may be allowed with a very strong FICO score. Closing costs of up to 6% may be rolled into the mortgage amount. While requirements and guidelines change with each investor, you will not necessarily pay more in interest for a jumbo loan compared to a conventional loan. Additionally, most jumbo loans do not require PMI.

More Loan Types


FHA/HUD loans are one of the easiest mortgage loans to qualify for, making them popular for both first-time home buyers and repeat buyers.

Conventional Loans

Conventional loans are often the best option for home buyers with a good credit score and the ability to make larger down payments.

VA Loans

VA loans are available to eligible U.S. military veterans, active duty service members, National Guard, Reservists, and surviving spouses.

USDA Loans

USDA loans are only available in rural areas; however, 97% of the U.S. classifies as “rural” under this loan program.

Find the Right Loan for You

There are many types of loans available and understanding mortgage options can be complicated. Whether you’re a first time home buyer, looking to refinance, self-employed, military veteran, or public servant- The Tuttle Group is here to help. We’re experienced in working with people who have unique loan situations and we will help you figure out the loan program best for you.


If you’re ready to start the process or starting to think about a new home loan, fill out our quick form to get started. We’ll help answer any questions and let you know what to expect. If you’re ready to get started, we’ll do that too. Just fill out our quick form and we’ll be in touch soon.

Resources & Tools

We’ve compiled a variety of resources to help borrowers of all types make sense of the process. And when you’re ready to get started, our team is here to help.

Right Interest Rate for Refinance - The Tuttle Group

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Stay up to date on what you need to know about market changes and how that impacts a home mortgage.