How to Qualify for a Jumbo Loan in 2026

You'll need strong credit, manageable debt, and enough cash for a down payment to qualify for a jumbo loan.

That's because jumbo loans are mortgages that exceed conforming limits. Exceeding conforming limits means stricter underwriting and tougher requirements to qualify. 

That usually means more documentation, deeper income and asset review, and a timeline that can be longer than a standard mortgage.

But with the right preparation, many borrowers can qualify without surprises.

What Is a Jumbo Loan and Who Needs One?

A jumbo loan is a mortgage that exceeds the conforming loan limit for the area where the property is located.

Conforming limits are updated annually by the Federal Housing Finance Agency and vary by county. When a mortgage amount is above the local limit, it is considered nonconforming and cannot be sold to Fannie Mae or Freddie Mac.

You'll need a jumbo loan if the home you're trying to buy exceeds conforming limits in your county. 

2026 Jumbo Loan Limits

There is no single nationwide jumbo threshold because conforming loan limits vary by location.

That means a loan that counts as jumbo in one county may be conforming in another.

The national baseline jumbo loan limit for 2026 is $832,750, according to the FHFA, an increase of $26,250 from 2025. But that limit can be higher in high-cost counties. You can find your local conforming loan limit with Fannie Mae's lookup tool. 

If your target loan amount is above your county's limit, you are in jumbo territory. If you are close to the limit, you may have multiple financing paths available, which can affect rate, fees, and required cash to close.

Jumbo Loan Requirements

Credit Score

You'll generally need a good credit score to qualify for a jumbo loan. While the baseline for conventional loans is generally 620, you'll generally need a credit score of 680 or higher to qualify for a jumbo loan.

Down Payment

Many jumbo loans require down payments of 15% to 20% or higher, but down payment requirements are affected by your credit score and other financial factors. 

Debt-to-Income Ratio

You'll generally need a debt-to-income ratio of less than 43% to qualify, but many lenders prefer even lower for jumbo loans. 

How to Budget for a Jumbo Loan

A jumbo budget should include more than principal and interest. Taxes, insurance, HOA dues, and maintenance matter more as home values rise. Closing costs and prepaid items can also be substantial, even when fee percentages are similar to smaller loans.

Down payments on jumbo loans are often higher than on conforming loans, although some well-qualified borrowers can find options at the lower end of common ranges. Many lenders also require reserves, which are liquid funds you hold after closing to cover a certain number of months of housing payments. Reserve expectations vary widely by lender, property type, and loan size.

A helpful planning approach is running multiple scenarios. Model your payment at different rates and down payments, and make sure you still have an emergency fund separate from funds earmarked as reserves.

Understand Debt-to-Income Ratio Expectations

Debt-to-income ratio, often called DTI, measures how much of your gross monthly income goes toward debt payments, including the new mortgage. Jumbo lenders often prefer lower DTIs, though the maximum allowed varies by lender and borrower strength.

You can use our DTI calculator to get an idea of your situation. 

Build a Strong Credit Profile

Strong credit is one of the clearest ways to improve jumbo approval odds and pricing. Many jumbo programs look for higher credit scores than conforming programs. If you are planning ahead, focus on the basics that move scores most reliably.

Pay every bill on time, keep credit card utilization low, and avoid opening new accounts before applying. Pull your credit reports early so you have time to correct errors. If your credit history is thin, consistent on-time payments and conservative credit use can help strengthen your profile over time.

Save for the Down Payment and Required Reserves

Jumbo loans often require more cash upfront than borrowers expect. You need funds for the down payment and closing costs, plus reserves after closing. Reserve requirements are often measured in months of total housing payment, including principal, interest, taxes, and insurance.

Requirements vary by property type. Second homes and investment properties commonly face stricter down payment and reserve expectations. Very large loan amounts can also come with higher liquidity requirements.

If you are building cash, keep deposits clean and traceable. Large unexplained deposits can slow underwriting because lenders need to verify the source of funds.

Prepare Documentation for Deeper Underwriting

Jumbo files typically involve more documentation than conforming loans. Most lenders request income verification, asset statements, and documentation that explains unusual items on bank statements or credit reports.

Many borrowers should be ready with recent pay stubs, W-2s or 1099s, tax returns, and multiple months of bank and brokerage statements.

Self-employed borrowers may need additional business financial documentation. If you are using gifts or proceeds from asset sales, you will usually need clear paper trails.

Organizing these items before applying can reduce delays and reduce back-and-forth during underwriting.

Choose the Jumbo Product That Fits Your Needs

Jumbo loans can come in different structures, including fixed-rate and adjustable-rate options.

A fixed-rate mortgage offers stable payments over the full term. An adjustable-rate mortgage may offer a lower initial rate but can change after the introductory period.

The right structure depends on how long you expect to keep the loan, how stable your income is, and how comfortable you are with payment changes.

Get Preapproved Before You Make Offers

In many high-price markets, sellers expect buyers to be preapproved before making an offer. A stronger form of preapproval includes a deeper review of income and assets upfront, which can make your offer more credible and reduce surprises later.

Preapproval typically requires identification, income documentation, asset statements, and authorization for a credit check. If you own other properties, lenders may also request mortgage statements and proof of insurance and taxes.

What to Expect During the Jumbo Approval Process

After application, lenders typically order an appraisal and begin full underwriting review. In some cases, higher-value or unique properties may require additional appraisal review if comparable sales are limited.

Underwriting often results in conditional approval, meaning the lender approves the loan once you satisfy follow-up requests. These requests can include updated statements, explanations for deposits, proof of employment, or documentation of asset transfers.

Jumbo timelines vary, but borrowers should plan for a process that can take longer than a standard mortgage, especially if income is complex or the property requires additional valuation review.

The Bottom Line

Qualifying for a jumbo loan usually requires a higher credit score and a lower debt-to-income ratio than a conventional loan. It also generally requires stricter underwriting, so be prepared for an intensive process while your lender verifies your finances. 

Frequently Asked Questions

What Credit Score Is Needed to Qualify for a Jumbo Loan?

Many jumbo programs expect stronger credit profiles than conforming loans. Requirements vary by lender, but higher scores generally improve approval odds and pricing.

How Much Down Payment Is Required for a Jumbo Loan?

Down payment expectations vary by lender, property type, and loan size. Many jumbo loans require more than the minimum down payment associated with conforming programs.

What Debt-to-Income Ratio Do Lenders Prefer?

Jumbo lenders often prefer lower DTIs, though maximums vary. Lower debt relative to income typically improves approval odds and pricing.

How Much Cash Reserve Should I Have?

Reserve requirements vary widely and are often measured in months of total housing payments. Second homes, investment properties, and larger loan amounts may require more reserves.

What Documents Are Usually Required?

Expect income verification, tax documents, and multiple months of bank and brokerage statements. Borrowers with self-employment income, large deposits, gifts, or asset sales should be prepared to document sources and timing.