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Jumbo Loans

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About jumbo loans

A loan is considered jumbo if the amount of the mortgage exceeds loan-servicing limits set by Fannie Mae and Freddie Mac — currently $424,100 for a single-family home in all states (except Hawaii and Alaska and a few federally designated high-cost markets, where the limit is $636,150).

Jumbo mortgages are available for primary residences, second or vacation homes and investment properties, and are also available in a variety of terms, including fixed-rate and adjustable-rate loans. A jumbo loan will typically have a higher interest rate, stricter underwriting rules and require a larger down payment than a standard mortgage.

 

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Today's low rates Today's low rates for jumbo mortgage loans for jumbo mortgage loans

Rates based on a $725,000 loan in ZIP code 92821

Get a custom rate

$ 

$60,000 - $2.5 million

$ 

5% or more of purchase price

30-year fixed layer

Rate X.XXX%

APR X.XXX%

Points X.XXX

Monthly Payment $XXXX

15-year fixed layer

Rate X.XXX%

APR X.XXX%

Points X.XXX

Monthly Payment $XXXX

5/1 ARM layer variable

Rate X.XXX%

APR X.XXX%

Points X.XXX

Monthly Payment $XXXX

Mortgage rates valid as of and assume borrower has excellent credit (including a credit score of 740 or higher). Estimated monthly payments shown include principal and interest only. ARM interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5/1 ARM, 7 years for a 7/1 ARM and 10 years for a 10/1 ARM). Select the About ARM rates link for important information, including estimated payments and rate adjustments.

Rates based on a $725,000 loan in ZIP code 92821

Get a custom rate

$ 

$60,000 - $2.5 million

$ 

5% or more of purchase price

 

30-year fixed layer

15-year fixed layer

5/1 ARM layer variable

30 Year Fixed X.XXX%

15 Year Fixed X.XXX%

5/1 ARM Variable X.XXX%

30 Year Fixed X.XXX%

15 Year Fixed X.XXX%

5/1 ARM Variable X.XXX%

30 Year Fixed X.XXX

15 Year Fixed X.XXX

5/1 ARM Variable X.XXX

30 Year Fixed $XXXX

15 Year Fixed $XXXX

5/1 ARM Variable $XXXX

Mortgage rates valid as of and assume borrower has excellent credit (including a credit score of 740 or higher). Estimated monthly payments shown include principal and interest only. ARM interest rates and payments are subject to increase after the initial fixed-rate period (5 years for a 5/1 ARM, 7 years for a 7/1 ARM and 10 years for a 10/1 ARM). Select the About ARM rates link for important information, including estimated payments and rate adjustments.

Rate

The rate of interest on a loan, expressed as a percentage.

Annual percentage yield (APR)

The annual cost of a loan to a borrower. Like an interest rate, an APR is expressed as a percentage. Unlike an interest rate, however, it includes other charges or fees (such as mortgage insurance, most closing costs, points and loan origination fees) to reflect the total cost of the loan.

Points

An amount paid to the lender, typically at closing, in order to lower the interest rate. Also known as mortgage points or discount points. One point equals one percent of the loan amount (for example, 2 points on a $100,000 mortgage would equal $2,000).

Monthly Payment (estimated)

The estimated monthly payment includes principal, interest and any required mortgage insurance (for borrowers with less than a 20% down payment). The payment displayed does not include amounts for hazard insurance or property taxes which will result in a higher actual monthly payment. If you have an adjustable-rate loan, your monthly payment may change annually (after the initial period) based on any increase or decrease in the London Interbank Offered Rate (LIBOR) index.

Fixed-rate mortgage

A home loan with an interest rate that remains the same for the entire term of the loan.

Adjustable-rate mortgage (ARM)

Also called a variable-rate mortgage, an adjustable-rate mortgage has an interest rate that may change periodically during the life of the loan in accordance with changes in an index such as the U.S. Prime Rate or the London Interbank Offered Rate (LIBOR). Bank of America ARMs use LIBOR as the basis for ARM interest rate adjustments.

Your monthly payment may fluctuate as the result of any interest rate changes, and a lender may charge a lower interest rate for an initial portion of the loan term. Most ARMs have a rate cap that limits the amount of interest rate change allowed during both the adjustment period (the time between interest rate recalculations) and the life of the loan.

Our calculator is unable to display your results

To recalculate and see results try lowering your purchase price, increasing your down payment or entering a different ZIP code. (Note: We offer a wide range of loan options beyond the scope of this calculator, which is designed to provide results for the most popular loan types.)

Our experienced lending specialists are ready to help you with your financing needs:

Other types of mortgages

Fixed-rate mortgages

  • Your interest rate remains the same for the entire loan term

  • Your monthly payment of principal and interest does not change during the loan term

Adjustable-rate mortgages (ARMs)

  • Interest rate may change periodically during the loan term

  • Your monthly payment may increase or decrease based on interest rate changes

FHA & VA loans

  • Government loans from the Federal Housing Administration and the U.S. Department of Veterans Affairs

  • Low down payment options with flexible credit and income guidelines

Affordable Loan Solution® mortgage

  • Down payments as low as 3%

  • No mortgage insurance required

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