Jumbo loans exceed the conforming loan limit ($766,550 for most areas in 2026, higher in high-cost areas). They require stricter underwriting because they're not backed by Fannie Mae, Freddie Mac, or Ginnie Mae.
Most jumbo lenders require 700+ FICO. Some accept 680+. Rates improve significantly at 740+.
Lenders often require 6-12 months of liquid reserves (PITI) after closing — significantly more than conforming loans.
Stricter DTI enforcement. Some jumbo lenders cap at 38% DTI for the best rates.
Most jumbo refinances cap at 80% LTV. Cash-out jumbo typically maxes at 70% LTV.