When the home you want to buy exceeds conventional loan limits, a jumbo home loan is the path forward. Jumbo loans finance properties above the conforming loan limit — currently $832,750 for a single-family home in most markets — and are available for primary residences, second homes, and investment properties.

At First Commerce Financial, we offer competitive jumbo financing across Michigan, Arizona, Florida, and Texas — with no junk fees, complete transparency on costs, and the lender relationships to get jumbo deals done efficiently.

What Is a Jumbo Loan?

A jumbo loan is any mortgage that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. Because jumbo loans can’t be sold on the secondary market the same way conforming loans can, they’re underwritten to different standards — typically requiring stronger credit, larger down payments, and more reserves.

That said, jumbo loans are a routine part of mortgage lending in higher-priced markets, and with the right lender relationships, the process is straightforward. We close jumbo loans regularly across all four states we serve.

2026 Conforming Loan Limits

For 2026, the baseline conforming loan limit is $832,750 for a single-family home in most U.S. counties. In high-cost areas designated by the FHFA, limits can be higher — up to $1,249,125 in some markets.

If your loan amount exceeds the applicable limit for your county, you’ll need a jumbo loan. We’ll tell you the exact limit for your market upfront.

Jumbo Loan Requirements

Credit Score

Jumbo loans generally require a stronger credit profile than conforming loans. Most jumbo lenders look for a minimum score of 700-720, with 740+ getting the best rates. We’ll assess your credit early and tell you exactly where you stand.

Down Payment

Most jumbo loans require a minimum of 10-20% down, depending on the loan amount, property type, and lender. Some programs allow as little as 10% down for well-qualified borrowers on primary residences. For second homes and investment properties, expect 20-25% or more.

Cash Reserves

Jumbo lenders typically want to see significant cash reserves after closing — often 6-12 months of mortgage payments in liquid assets. This requirement varies by lender and loan amount, and we’ll give you the specific reserve requirement for your scenario upfront.

Debt-to-Income Ratio

Jumbo guidelines are generally similar to conforming on DTI — typically up to 43-45% for most programs. Some lenders are more flexible for strong borrowers.

Appraisal

Jumbo loans often require two appraisals for higher loan amounts, rather than one. This is standard practice and something we’ll manage proactively to keep your closing on track.

Fixed vs. Adjustable Rate Jumbo Loans

Fixed Rate Jumbo

A fixed rate jumbo loan locks in your interest rate for the life of the loan — 15, 20, or 30 years. Your payment never changes. This is the most common choice for primary residence purchases where long-term payment stability matters.

Adjustable Rate Jumbo (ARM)

A jumbo ARM offers a fixed rate for an initial period — typically 5, 7, or 10 years — then adjusts annually based on market conditions. The initial rate is often lower than a fixed rate jumbo, which can mean significant monthly savings for buyers who plan to sell or refinance before the fixed period ends. This is a popular choice in markets like Scottsdale and Naples where buyers often don’t stay in a home long-term.

Jumbo Loan Markets We Serve

Jumbo loans are a significant part of our business in several of the markets we serve:

• Scottsdale & Paradise Valley, Arizona — luxury and resort properties frequently exceed conforming limits
• Naples & Sarasota, Florida — Gulf Coast waterfront and luxury communities with higher price points
• Austin, Texas — strong home price appreciation has pushed many purchases into jumbo territory
• Oakland County, Michigan — higher-end communities in Birmingham, Bloomfield Hills, and Franklin regularly require jumbo financing

Super Jumbo Loans

For loan amounts significantly above standard jumbo thresholds — typically $2 million and above — super jumbo financing is available. These transactions require exceptional credit, substantial assets, and lenders with appetite for larger exposures. We have the relationships to get these deals done and the experience to manage them properly.

Frequently Asked Questions

Are jumbo loan rates higher than conventional rates?

Historically yes — but the gap has narrowed significantly in recent years. In some market conditions, jumbo rates are actually competitive with or even slightly better than conforming rates, particularly for well-qualified borrowers. We shop multiple jumbo lenders to find the best rate available for your specific scenario.

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

Yes — jumbo financing is available for second homes and investment properties. Down payment requirements are higher (typically 20-25%+) and the qualification criteria are stricter, but we handle these transactions regularly.

What’s the maximum loan amount for a jumbo loan?

There’s no universal maximum — it depends on the lender. Most conventional jumbo programs go up to $3-5 million. Above that, you’re in super jumbo territory which requires specialized lenders. We’ll tell you exactly what’s available based on your loan amount and property type.

How long does a jumbo loan take to close?

Jumbo loans typically take slightly longer than conforming loans — plan for 30-45 days. The two-appraisal requirement and more thorough underwriting review add time. We manage this timeline proactively and keep things moving efficiently.

Do I need to be a U.S. citizen to get a jumbo loan?

Not necessarily — some jumbo programs are available to permanent residents and certain visa holders. Requirements vary by lender and we’ll match you with the right program for your specific situation.

Ready to Get Started on Your Jumbo Loan?

Whether you’re buying a luxury home in Scottsdale, a waterfront property in Naples, or a high-value home in Oakland County — we have the lender relationships and experience to get your jumbo loan done efficiently and at the best rate available.

Licensed in Michigan, Arizona, Florida, and Texas.

📞 Call us at (248) 459-5511

✅ Or get pre-approved online — we’ll have your options fast.