Looking at homes with higher price tags? When your loan amount goes above standard limits, Jumbo Loans can help you finance luxury homes, vacation properties, or high-end real estate that conventional loans can’t cover.

At Simply Home Loans, we make it easy to understand your options and guide you through every step of the process.

What Is a Jumbo Loan?

A jumbo loan is simply a mortgage for loan amounts that exceed the regular limits set for most loans. Because these loans aren’t backed by Fannie Mae or Freddie Mac, lenders apply a few extra rules to make sure you’re well-qualified.

Who Can Qualify?

To qualify for a jumbo loan, you’ll typically need:

• A strong credit score (700 or higher is ideal)
• A down payment of 10% to 20% (sometimes more)
• Stable income and employment history
• Cash reserves (several months of mortgage payments saved up)
• A reasonable debt-to-income ratio (generally below 45%)

Don’t worry, our team will help you review everything and guide you through what’s needed!

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Popular Jumbo Loan Options

30-Year Fixed Jumbo Loan

• Lock in today’s rates for the long term
• Keep monthly payments predictable for easy budgeting
• Ideal if you plan to stay in your home for many years

15-Year Fixed Jumbo Loan

• Pay off your home faster
• Save thousands in total interest paid
• Higher monthly payments, but greater long-term savings

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Why Choose a Jumbo Loan?

• Finance homes beyond standard loan limits
• Avoid paying private mortgage insurance (PMI) with a larger down payment
• Competitive rates, often close to conventional loan rates
• Flexible terms with both fixed and adjustable-rate options

Is Now a Good Time for a Jumbo Loan?

Even though mortgage rates have risen from historic lows, jumbo loan rates are still very competitive. If you’re buying a high-end home in Florida, it can be a great time to lock in your rate before any future increases.