Jumbo Loans | Finance Luxury & High-Value Homes | Convoy Home Loans

What Is a Jumbo Loan?

A jumbo loan (also known as a non-conforming loan) is a mortgage that exceeds the conforming loan limits set annually by Fannie Mae and Freddie Mac. For 2026, the baseline conforming limit is $832,750 for most areas of the United States (higher in high-cost regions).

Because these loans cannot be sold to Fannie Mae or Freddie Mac, lenders take on more risk and typically charge slightly higher interest rates.

"A jumbo loan is a loan that exceeds the conforming loan limits as set by Fannie Mae and Freddie Mac. Rates tend to be a bit higher on jumbo loans because lenders generally have a higher risk."

Key Benefits of Jumbo Loans

Finance Higher-Priced Homes

Purchase luxury properties, waterfront homes, or larger estates in expensive markets like San Diego.

Flexible Loan Amounts

Borrow well beyond conforming limits - often into the millions.

Competitive Rates

While slightly higher than conforming loans, current jumbo rates remain attractive for well-qualified borrowers.

Portfolio Lending Options

Access to specialized products with unique terms and underwriting.

Cash-Out Refinance Capability

Tap into significant equity in high-value homes.

Investment & Second-Home Flexibility

Strong options for luxury second homes and investment properties.

In high-cost areas like San Diego, jumbo loans are often the key to unlocking dream homes that exceed standard loan limits.

Potential Drawbacks

Slightly Higher Interest Rates

Typically 0.125%-0.50% higher than conforming loans.

Stricter Qualification

Requires higher credit scores (usually 700+), larger down payments (10-20%+), and substantial reserves.

Who Should Consider a Jumbo Loan?

Jumbo loans are ideal for:

Buyers purchasing homes above $850,000 in San Diego County

High-income professionals and executives

Self-employed borrowers with strong financial profiles

Buyers with significant assets and excellent credit

Those relocating to Southern California for high-paying careers

Luxury home buyers and real estate investors

How a Jumbo Loan Works

Pre-Approval

We thoroughly review your financials and shop multiple jumbo lenders.

Rate & Product Selection

Choose from fixed-rate, adjustable-rate, or interest-only jumbo options.

Property Search

Shop confidently knowing your financing is secured.

Underwriting

Detailed review of income, assets, credit, and property appraisal.

Closing

Close on your high-value home with terms tailored to your needs.

We leverage our strong relationships with wholesale jumbo lenders to secure the best possible terms.

Jumbo Loan vs. Other Options

Loan Type	Max Loan Amount (Most Areas)	Interest Rates	Down Payment	Best For
Jumbo Loan	$1M+	Slightly Higher	10-20%+	Luxury & high-value homes
Conventional	Up to $832,750 (2026)	Lower	3-20%	Standard priced homes
FHA Loan	County-specific (lower)	Competitive	3.5%	Lower down payment buyers
VA Loan	No limit (entitlement-based)	Excellent	0%	Eligible veterans

Why Choose Convoy Home Loans for Your Jumbo Mortgage?

As a nationally licensed mortgage broker (NMLS #2130517) with offices in San Diego and El Segundo, we have access to an extensive network of jumbo loan programs that community banks and big institutions often cannot match. Our mission is to provide financing options that enhance your standard of living while treating you like family.

We excel at placing complex jumbo loans quickly and at competitive rates.

Ready to finance your luxury home in San Diego? Get pre-approved for a jumbo loan today - no obligation.

Frequently Asked Questions

What credit score do I need for a jumbo loan?

Most lenders require 700+, with the best rates and terms available to borrowers with 740+ credit scores.

How much down payment is required?

Typically 10-20% or more, though some programs allow lower down payments for well-qualified buyers.

Are jumbo rates much higher than conforming loans?

Rates are usually only slightly higher. We shop aggressively to minimize the difference.

Can I get a jumbo loan with a 15-year term?

Yes - we offer both 15-year and 30-year fixed jumbo options, as well as adjustable-rate jumbo products.

Do you offer jumbo loans for investment properties?

Yes - we have strong options for second homes and investment properties.

Are jumbo loans available outside California?

Yes - we are licensed in many states and can assist high-value borrowers nationwide where permitted.

Convoy Home Loans · NMLS #2130517 · Licensed Mortgage Broker
AZ · CA · CO · FL · GA · ID · MD · MI · MN · NC · NM · OH · OR · PA · TN · TX · VA · WA and more
This is not a commitment to lend. All loans subject to credit approval. Equal Housing Lender.

Jumbo Loans | Financing Luxury Homes with Convoy Home Loans