Jumbo Loan Limits
Starting jumbo mortgage limits for buyers & homeowners of high cost properties.
The starting loan limits for jumbo and super jumbo mortgage products always begins where conventional mortgage limits cap off. When factoring jumbo mortgage limits for luxury homes, homeowners and home buyers need to consider total-loan-to-value (TLTV) to arrive at the correct numbers. The lending limits for jumbo properties are capped by a lender's, broker's, or banker's ability to quickly sell the new loan in the secondary mortgage market. This means that some lenders have to cap their jumbo mortgage limits at 5M, others may cap jumbo limits at 10M or more, and some provide no loan limit caps at all. Jumbo mortgage borrowers should take into account that qualifying is dependent upon LTV, TLTV, ability to show sufficient income, property type, and credit score. The 2012 jumbo mortgage limits are:
SFR - $417,001 - No Limit
2-Unit - $533,851 - No Limit
3-Unit - $645,301 - No Limit
4-Unit - $801,951 - No Limit
*Does Not Reflect Limits for HI & AK