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Key Benefits

The Advantages of a Jumbo Loan

  • Interest rates for jumbo loans are typically lower than conventional loans.
  • Purchase a home with as little as 10% down.
  • Jumbo loans are available for primary homes, second homes and investment properties, located on up to 40 acres.
  • Veterans and service members who qualify for a jumbo VA loan can often buy a home with a much lower down payment compared to other loans.

The Benefits of Getting a Loan from Quicken Loans

  • You get a completely online application with less paperwork.
  • Home Loan Experts are available via chat, email and phone to help you get the jumbo loan that’s right for you.
  • We don’t charge you to make your mortgage payments online.
  • No prepayment penalties if you pay off your loan early.

Other Popular Loan Options

How It Works

The Different Types of Jumbo Loans

  • Choose between a fixed or adjustable interest rate for all jumbo loans.
  • Jumbo loans are available with different terms – the length of the mortgage.

How Jumbo Loans Work

  • Jumbo loans are also called nonconforming loans because they’re over conventional loan limits.
  • In most of the country, the current conventional loan limit is $484,350. In 2020, the limit is raising to $510,400. The limit is higher in areas where housing is more expensive.
  • For buying a home, we finance jumbo loans up to $3,000,000.
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(Secure / No Obligation / Free Expert Advice)

Based on Quicken Loans internal data.

The payment on a $200,000 30-year fixed-rate loan at 3.875% with a 70% loan-to-value ratio is $940.48 with .25 points due at closing. The annual percentage rate (APR) is 3.968%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. By refinancing your existing loan, the total finance charges may be higher over the life of the loan. Some state and county maximum loan amount restrictions may apply.