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What Is a Jumbo Loan?

A jumbo loan can help you buy a pricier property. But what does it take to qualify for one?

[Updated: May 19, 2021 ] Apr 09, 2021 by Aly J. Yale

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Number of Units Basic Conforming Loan Limit Highest-Cost Market Limit
1 $548,250 $822,375
2 $702,000 $1,053,000
3 $848,500 $1,272,750
4 $1,054,500 $1,581,750

Data source:

Pros Cons
High loan amounts Harder to qualify for
Good for pricier purchases Higher mortgage rates
No mortgage insurance More closing costs
Not all lenders offer them

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