Larger homes, smarter financing — here’s what you’ll need.

If your loan amount exceeds the conforming limits in your area, you’ll likely need a jumbo loan — and while the benefits are big, so are the expectations.

👉 Jumbo loans are non-conforming, which means they’re not backed by Fannie Mae or Freddie Mac. That gives lenders more flexibility — but also means stricter requirements for approval.

Here’s exactly what you’ll need to qualify for a jumbo mortgage in 2025.

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✅ 1. Credit Score Requirements

Most jumbo lenders require:

• Minimum credit score of 680–700
• For best rates: 740+ is ideal
• Lower scores may be approved with compensating factors (like a bigger down payment or strong assets)

📘 Pro tip: Make sure your credit profile is free of recent late payments or large credit utilization spikes before applying.

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✅ 2. Income & Documentation

Jumbo loans typically require full income documentation, including:

• 2 years of W-2s and/or 1099s
• 2 years of federal tax returns
• Recent pay stubs
• Proof of bonuses, commissions, or variable income
• P&L and balance sheets (if self-employed)

💡 We can also help you qualify with alternative documentation if your income is complex or layered.

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✅ 3. Down Payment Requirements

Jumbo loan down payments depend on your credit, income, and loan size, but typical requirements include:

Loan Amount	Minimum Down Payment
Under $1.5M	10%–15%
$1.5M–$2M+	15%–20%
$2M+	20%+ (sometimes higher depending on lender and borrower profile)

📘 If you want to avoid jumbo altogether, some buyers increase their down payment to stay within conforming limits.

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✅ 4. Reserve Requirements

In addition to your down payment, most jumbo lenders want to see cash reserves — funds left over after closing that show you’re financially stable.

Typical requirement:

• 6–12 months of full housing payments (PITI)
• Can include checking, savings, retirement funds, or other liquid assets

This is especially important for self-employed borrowers or those with other real estate holdings.

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✅ 5. Debt-to-Income (DTI) Ratio

Most lenders want to see:

• DTI below 43%
• Some allow up to 45% with strong credit/reserves

This means your total monthly debt (including housing, loans, credit cards) should be under 43% of your gross monthly income.

💬 Not sure? We’ll help you calculate this and look for ways to optimize your file.

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🧠 Additional Approval Factors

✅ Strong credit history (no bankruptcies or major lates in recent years)
✅ Stable employment and income
✅ Lower loan-to-value (LTV) = better pricing
✅ Type of property (primary residence usually gets best terms)

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🏢 Why PRMI?

At PRMI, we offer:

• Jumbo loan approvals up to $3M+
• Support for W-2 and self-employed borrowers
• In-house underwriting = faster approvals
• Multiple jumbo options: fixed-rate, ARM, interest-only, and more

Whether you’re buying a luxury primary residence or a second home, we’ll help you qualify with clarity and confidence.

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👇 Want to Know if You Qualify for a Jumbo Loan?

Let’s review your credit, income, and down payment — and create a jumbo mortgage strategy built around your goals.