We were moving 1800 miles across country and worked with Chad Pounders at Lit Financial to broker our mortgage. As difficult as remote home buying can be, the financing was the least stressful by a wide margin and I credit that to Chad and his team at Lit. Communication was always quick and Chad showed a ton of patience as we worked through inventory with our realtor. Chad is knowledgeable and was open and honest about our options as we moved through the process. I highly recommend reaching out to Chad and his team at Lit if you are in… Read more →
Jumbo Loans. Large loans are in a league of their own.
With LitFinancial, you can finance your dream home with confidence.
Best for high-income buyers purchasing high-value properties.
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What is a jumbo loan?
A jumbo loan exceeds the size of loan that would meet the underwriting requirements of Fannie Mae, Freddie Mac, or the Federal Housing Finance Agency. Essentially, it’s a loan that’s too large to be covered by the terms of a conventional mortgage loan.
Is this loan right for me?
A better question is — is this house right for you? If you have your eyes set on a high-value property that’s more than $766,550, odds are you’ll need a jumbo loan. There are more checks and requirements on the borrower here, because the loan is not backed by the government or a mortgage association.
How can LitFinancial help?
Jumbo loans are high-stake loans. LitFinancial’s experienced loan officers can walk you through the ins and outs of a jumbo loan to explain complex terms in ways you can understand.
Frequently Asked Questions
Let's help make things clearer.
A Jumbo loan is a mortgage that’s larger than the standard conforming loan limit. It’s used to buy higher-priced homes.
The limit changes each year and varies by area, but jumbo loans start above the conforming loan limit, which is set by Fannie Mae and Freddie Mac.
Many lenders want 10%–20% down, but some offer as low as 5% with strong credit and income.
Most jumbo loans require 700 or higher, though some programs allow lower with strong financials.
Sometimes, but not always. Rates depend on your credit, down payment, and financial profile.
Because the loan amounts are higher, lenders want to see strong credit, stable income, and solid reserves.
Yes. Many jumbo programs require you to have months of mortgage payments saved—often 6–12 months or more.
You’ll need full income verification: pay stubs, W-2s, tax returns, bank statements, and investment statements.
Yes—many jumbo programs allow primary, second homes, and investment properties.
Usually no. Jumbo loans rarely require PMI, even with a smaller down payment.
Single-family homes, condos, townhomes, and multi-unit properties (depending on the lender).
You can choose either. Jumbo loans come in fixed-rate, ARM, and interest-only options.
They can, because underwriting is stricter, but most still close in 30–45 days.
Yes. You can refinance into another jumbo loan or into a conforming loan if the balance drops low enough.
Lenders look closely at your income history, stability, and overall financial picture. Self-employed borrowers may need extra documentation.
Most jumbo loans want a DTI below 43%, but some allow higher with strong compensating factors.
Yes, and some lenders require two appraisals because of the high loan amount.
Some jumbo programs allow gift funds, especially for the down payment, but rules vary widely by lender.
You may still qualify if you have strong credit, a larger down payment, or significant assets elsewhere.
It’s a good fit if you’re buying a high-priced home and have solid credit, income, and savings to support a larger mortgage.
Get started with our quote tools.
Whether you’re estimating your mortgage costs, seeking to simplify and save through debt consolidation, or aiming to explore and compare various loan options tailored to your needs, our intuitive tools are here to guide you every step of the way.
No SSN required. Zero impact to credit. Your information is never sold.
Why choose LitFinancial?
Experience Matters
When it comes to loan officers, we are experienced experts and take pride in leveraging our knowledge to help you every step of the way.
We Are Your Advocate
Our loan officers are advocates through -out your lending journey. From finding the right mortgage plan, to proactively engaging with key stakeholders on your behalf.
Relentlessly Seeking Solutions
We are committed and passionate about helping borrowers find their best financial fit. We tap our trusted network to look at any and all options.
Lit For Life
Our approach to advising is finding the best solution for each client’s life. We will also be there as your needs change through different life stages.
Advising You Like You’re Family
We are a mortgage partner that takes the time to listen to your needs and goals. We care about each client that tailor our advice for your best outcome.
Leading the Industry
We are constantly modernizing lending models, streamlining treasury operations, and increasing transparency across mortgages. This allows us to bring innovative products and better service to you.
Chris Solinski, Executive Loan Officer
“Nothing is impossible. The word itself says ‘I'm possible!’”
People like LitFinancial
When you love what you do, it shows.
Brandon was incredible to work with throughout my refinance process. He was knowledgable, responsive, and truly went above and beyond to make sure I understood every step. Most importantly, he saved me a significant amount of money. His friendly approachable attitude made what could be a stressful process feel smooth and manageable. Billy, his supervisor was also extremely helpful and supportive. I'm so grateful for their hard word and would highly recommend them to anyone looking to refinance! Read more →
We had an excellent experience working with Chris Solinkski and his team at Lit Financial. He was knowledgeable, professional, and incredibly responsive throughout the entire loan process. His communication was clear, and he kept us updated every step of the way. We truly appreciated how quickly he handled things while still taking the time to answer our questions. We highly recommend Lit Financial and Chris to anyone looking for a seamless lending experience! Read more →
The first call with Keefer was awesome and i immediately felt hopeful that i would get the house of my dreams. Keefer was professional, friendly and very supportive throughout the process. Tiffany and Rima came on board and did a fantastic job together with Keefer. Working with this team has been a great experience that i will never forget about. Keefer held my hand, always giving me updates and encouraged me to keep going and not lose hope, he guided me throughout the process . Rima, Tiffany and Keefer worked so hard for me to get the loan, I’m so… Read more →
We did a refinance on our home, and James Abdallah was very professional, assisting us every step of the way with any information we needed and answering any questions that we had. The entire process was very fast and we felt very comfortable with how knowledgeable he was. He was easy to contact and available at all times for us. We ended up getting the deal that we wanted with a quick turnaround time. A special thanks to Lex and Sue as well for their help as part of the team! I highly recommend working with the Lit Financial team… Read more →