High-value financing comes with higher expectations — here’s how to prepare.

If you’re planning to finance a high-priced home, you may need a jumbo loan — and while these loans offer tremendous flexibility, they also come with stricter qualification criteria.

Understanding how to qualify for a jumbo loan is essential for buyers in the luxury market.

👉 Jumbo loans aren’t backed by Fannie Mae or Freddie Mac, so lenders assume more risk. That means you’ll need to be solid on paper — with strong credit, income, and reserves.

Here’s exactly what it takes to qualify — and how PRMI helps you structure a smooth, stress-free approval.

📋 How to Qualify for a Jumbo Loan

---

✅ Credit Score Requirements

Most jumbo lenders require:

• A minimum FICO score of 700
• Some programs may allow down to 680 with compensating factors
• Premium rates may be offered with scores 740+

📘 If your score is close, we’ll help you take fast action to improve it before applying — with rapid rescore and tradeline strategies.

---

💵 Income & Debt-to-Income (DTI) Ratios

Jumbo loans typically require:

• Stable, verifiable income for the last 2 years
• A DTI ratio of 43% or lower (sometimes capped at 40%)
• Additional scrutiny if you’re self-employed or have bonus/commission-based income

✅ PRMI offers flexible documentation options for salaried and self-employed borrowers — including bank statement programs and asset depletion strategies if needed.

---

🏦 Down Payment Expectations

There’s a myth that all jumbo loans require 20% down or more. But in many cases, that’s not true.

Typical minimums:

• 10% down for jumbo loans up to $1.5M
• 15–20% down for $2M+ loans
• 5% down options available in select programs (with strong credit and reserves)

📘 We’ll explore the right mix of down payment, reserves, and pricing to fit your financial goals.

---

🏡 Reserve Requirements (Cash After Closing)

Many jumbo lenders want to see:

• 6–12 months of mortgage payments in reserves
• May include retirement accounts, savings, or investments
• Ensures you can comfortably manage the loan post-closing

We help you structure your file to maximize qualifying liquidity without disrupting your investment strategy.

---

💡 Property Types and Guidelines

Jumbo loans can be used for:

• Primary residences
• Second homes
• Investment properties (with higher down or rent offsets)

Some additional rules may apply for:

• Condos
• Non-warrantable properties
• High-rise or new construction units

✅ PRMI has specialized jumbo options for complex properties or income profiles.

---

🏢 Why PRMI?

We help high-value clients:

• Understand jumbo qualification requirements before they fall in love with a home
• Navigate credit, income, and reserve requirements with strategic planning
• Get fully pre-approved with in-house underwriting for fast offers and smooth closings

With PRMI, you don’t just qualify — you compete with confidence.

---

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

We’ll break down your income, credit, and reserves — and show you exactly what price range you’re approved for.