A jumbo loan is a mortgage that exceeds conforming loan limits, financing luxury and high-value properties up to $5 million and beyond. Jumbo loans require a 15–20%+ down payment, a 700+ credit score, and strong reserves, but offer competitive fixed and ARM rates with no PMI at 20% down.
What is a Jumbo?
Jumbo loans finance properties that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. For buyers purchasing luxury homes, high-value estates, or properties in premium markets, jumbo financing unlocks loan amounts conventional mortgages cannot reach.
ASB Capital Loan Funding offers jumbo loans up to $5 million and beyond, with competitive rates and flexible terms for primary residences, second homes, and investment properties. Our experienced underwriting team structures each jumbo loan around the borrower's complete financial picture.
Program Highlights
- Loan amounts up to $5 million+
- Competitive fixed and ARM rates
- Primary, second home & investment eligible
- Flexible terms (15, 20 & 30-year)
- Interest-only options available
- No private mortgage insurance with 20% down
Who This Loan Is For
- •Buyers of luxury and high-value properties
- •Purchasers in high-cost metropolitan markets
- •Borrowers with strong income and substantial assets
- •Investors acquiring premium real estate
Typical Requirements
- •Down payment typically 15–20%+
- •Credit score 700+ (often 720+)
- •Strong, documented income and assets
- •Low debt-to-income ratio (usually 43% or below)
- •6–12 months of cash reserves after closing
- •Appraisal supporting the purchase price
Key Terms to Know
- Jumbo Loan
- A mortgage that exceeds conforming loan limits, used to finance high-value properties not eligible for conventional conforming financing.
- Conforming Limit
- The maximum loan amount Fannie Mae and Freddie Mac will purchase. Loans above this limit are jumbo and held in portfolio.
- Reserves
- Liquid assets a borrower must hold after closing — typically 6–12 months of payments for jumbo loans.
See our FAQ and loan resources for more definitions and checklists.