You could save big with a jumbo loanWith a jumbo loan, you’ll get low rates for your big loan. Offering a choice between fixed or adjustable rates, our jumbo loans offer maximum flexibility for home financing for larger loans.
- Do you need a mortgage between $417,000 and $3,000,000?
- Do you need flexible rates and terms?
- Are you looking for quick turn-around for your jumbo purchase or refinance?
Why you should choose Quicken Loans
- Only Quicken Loans offers you the Closing Cost Cutter. Find out how this option can help guide you to your financial goals.
- Our powerful online tools, like MyQL Mobile, allow us to close your loan quickly. This app is exclusive to Quicken Loans clients and works with iPhone® and Android™!
- We close the majority of our loans in 30 days or less!
- We can close your loan fast. James, of Florence, SC, closed his loan in ‘less than 30 days from initial contact to close.’
Jumbo loan features
- Refinance or purchase up to $3,000,000, or do a cash out refinance of up to $500,000 for your next big home project.
- Credit scores as low as 680 may qualify.
- Our VA jumbos give veterans added value – no money down for purchases and refinances up to 90%.
How the jumbo loan works
- Any loan over the conventional loan limit ($417,000) is considered a jumbo loan.
- Loan limits vary by county, and rates depend on where your property is located.
- Your actual payment will vary based on your situation and the current interest rates when you apply.
- Pay your mortgage at any time without pre-payment penalties.
Learn more about jumbo loans
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“My Quicken Loans banker was very helpful. Even though I didn't know what I was doing he made me understand all of the aspects of the loan and made me feel really comfortable with my decisions and really helped me along with the process.”
- Mortgage rates could change daily.
- Actual payments will vary based on your individual situation and current rates.
- Some products may not be available in all states.
- Some jumbo products may not be available to first time home buyers.
- Lending services may not be available in all areas.
- Some restrictions may apply.
- Based on the purchase/refinance of a primary residence with no cash out at closing.
- We assumed (unless otherwise noted) that: closing costs are paid out of pocket; this is your primary residence and is a single family home; debt-to-income ratio is less than 30%; and credit score is over 720, or in the case of certain Jumbo products we assume a credit score over 740; and an escrow account for the payment of taxes and insurance.
- The lock period for your rate is 45 days.
- The loan to value (LTV) ratio is 70%. If LTV > 80%, PMI will be added to your monthly mortgage payment, with the exception of Military/VA loans. Military/VA loans do not require PMI.
- Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. Quicken Loans offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call (800) 251-9080 to talk to one of our mortgage experts.