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Jumbo Loans

When the loan you need is bigger than Fannie Mae or Freddie Mac will buy, a jumbo loan fills the gap. CPF finances up to $3,000,000 on primary homes, second homes and investment property, with fixed or adjustable rates and 15 or 30 year terms.

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Licensed in Florida, Tennessee, Georgia and Colorado. NMLS 222883.

$832,750+
Loan amount where jumbo begins in most counties
$3M
Maximum loan amount at CPF
10-20%
Typical down payment
700+
Credit score, generally

How a jumbo loan works

A jumbo loan is any mortgage above the conforming loan limit, which is the largest loan Fannie Mae and Freddie Mac will buy. For 2026 that limit is $832,750 in most counties. In designated high-cost counties, Monroe County in the Florida Keys for example, the limit is higher and can reach $1,249,125. Borrow more than your county's limit and the loan is jumbo.

Because the loan cannot be sold to Fannie Mae or Freddie Mac, the lender or a private investor keeps the risk. That is why the guidelines are stricter: credit generally 700 or higher, a debt-to-income ratio generally at or under 43%, a larger down payment and several months of payments in reserve after closing. Rates typically run a little higher than conforming rates, though in some markets the gap is small or disappears. The upside is that a larger down payment usually means no mortgage insurance at all.

Beyond that, a jumbo loan looks like any other mortgage. Choose a 30 year or 15 year fixed rate, or an adjustable rate with a fixed introductory period. Use it to buy, to refinance, or to combine a first mortgage and a second loan on the same property into one payment. CPF finances jumbo loans up to $3,000,000 across Florida, Tennessee, Georgia and Colorado.

Is it right for you?

A good fit if

  • The home you want needs a loan above $832,750, or above the higher limit in a high-cost county
  • You have strong credit, steady documented income and savings beyond the down payment
  • You are buying a second home or an investment property at the higher end of the market
  • You want to combine several loans on one property into a single mortgage

Look at something else if

  • Your loan amount can fit under the conforming limit, even with a slightly larger down payment (30 year fixed)
  • You want the lowest possible down payment; a jumbo generally needs 10% to 20% (FHA at 3.5% if the price fits FHA limits)
  • You have served in the military; a VA loan can go above the conforming limit with no down payment for borrowers with full entitlement
  • You want to draw on equity in a home you already own rather than take a new large first mortgage (HELOC)

What it takes to qualify

Jumbo guidelines vary more from lender to lender than conforming guidelines do, because each investor sets its own. These are the typical requirements. Your loan officer will match your file to the investor with the best fit.

Loan amount
Anything above the conforming limit, $832,750 for 2026 in most counties and higher in designated high-cost counties, up to $3,000,000 at CPF.
Down payment
Typically 10% to 20%, depending on the loan amount and property type. Larger loans, second homes and investment property generally sit at the higher end. Putting 20% or more down usually removes any mortgage insurance.
Credit score
Generally 700 or higher. Scores in the mid-700s and above earn the best pricing and the most flexible terms on the largest loans.
Debt-to-income ratio
Total monthly debts, including the new payment, generally at or under 43% of gross monthly income. Some investors allow more with large reserves or a bigger down payment.
Cash reserves
Often 6 to 12 months of full mortgage payments in savings, retirement or investment accounts after closing. Very large loans and investment property generally need more.
Appraisal and property
Primary homes, second homes and investment property. Two appraisals are sometimes required on very large loans, and the home is expected to fit its market rather than be the only one of its kind.

Guidelines are the program's typical requirements, not a commitment to lend. Your loan officer will tell you exactly what applies to your file.

How it compares

A conforming loan is only an option if the amount fits under the $832,750 limit, or your county's higher limit. If it does, or a larger down payment gets you there, compare these first; the rate and reserve requirements are usually easier.

Loan Minimum down Rate Term Mortgage insurance Best for
Jumbo This page Varies with loan amount Fixed or adjustable 15 or 30 years Typically none Loan amounts above the $832,750 conforming limit, up to $3,000,000.
30-year fixed Conventional As little as 3%; 5% is typical Fixed for the life of the loan 30 years Until you reach 20% equity The lowest fixed monthly payment, and the loan most first-time buyers start with.
ARM Conventional 5% is typical Fixed for an intro period, then adjusts 30 years, with a 5-, 7- or 10-year fixed period Until you reach 20% equity A lower rate for the first several years when you expect to move or refinance before it adjusts.
15-year fixed Conventional As little as 3%; 5% is typical Fixed, usually lower than a 30-year 15 years Until you reach 20% equity Owning your home outright in half the time, if the higher payment fits your budget.

Compare all eight programs

Getting started

Three steps, and the underwriters, processors and closers all sit in the same office as your loan officer.

  1. Tell us about the home and your goals

    Five minutes online or by phone. No credit pull is needed for a first estimate.

  2. See the numbers side by side

    A loan officer prices a Jumbo loan against the closest alternatives so you can compare payment, cash to close and total cost.

  3. Get pre-approved and close

    We verify income, assets and credit, issue your pre-approval letter, and our in-house team takes it through closing.

Get pre-qualified See the full process

Jumbo loan questions, answered

What makes a loan a jumbo loan?

Its size. Any mortgage above the conforming loan limit set for your county is a jumbo loan. For 2026 the limit is $832,750 in most of the country. Designated high-cost counties have a higher limit, up to $1,249,125, so the same loan amount can be jumbo in one county and conforming in the next.

How much can I borrow?

CPF finances jumbo loans up to $3,000,000. What you can actually borrow depends on your income, debts, credit and reserves, the same as any mortgage, and on the down payment the loan amount and property type call for.

Are jumbo rates higher than conforming rates?

Typically a little higher, because the loan is not backed by Fannie Mae or Freddie Mac and the lender carries more risk. The gap changes with the market and in some periods jumbo rates come very close to conforming, so it is worth pricing both when your loan amount sits near the limit.

Do jumbo loans require mortgage insurance?

Usually not. Most jumbo programs expect a down payment large enough that mortgage insurance is not needed. Some lenders offer jumbo loans with 10% down and either charge a slightly higher rate or require insurance in its place; your loan officer will show you the trade-off.

Can I use a jumbo loan for a second home or an investment property?

Yes. Jumbo loans are available for primary homes, second homes and investment property. Second homes and rentals generally call for a larger down payment, more reserves and slightly higher pricing than a primary residence.

Can I refinance into a jumbo loan?

Yes. Homeowners refinance jumbo loans to lower a rate, to move from an adjustable to a fixed rate, or to combine a first mortgage and a second loan or line of credit on the same property into one payment. The same credit, income and reserve guidelines apply.

Further reading

Other loan programs

Talk to a loan officer about a Jumbo loan

Tell us what you are trying to do and we will come back with real numbers: rate, payment, cash to close and how this loan stacks up against the alternatives. No obligation, and no credit pull until you ask for one.

CPF Mortgage
10710 FL-54 c101
Trinity, FL 34655
(727) 226-1040

Licensed mortgage lender and broker in Florida, Tennessee, Georgia and Colorado. NMLS 222883.

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