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Purchase loans

When the home costs more than conventional allows.

Jumbo loans finance properties above conforming loan limits — with the same care and lender-shopping you'd get on any other purchase.

Start my application Call (773) 354-3135

What is a jumbo loan?

Above the conforming limit, still within reach

Jumbo loans finance amounts that exceed the conforming loan limit set annually by the Federal Housing Finance Agency — meaning they can't be purchased by Fannie Mae or Freddie Mac and instead follow each individual lender's own underwriting guidelines. That gives jumbo lenders more flexibility, but also means terms and qualification standards vary meaningfully from lender to lender, which is exactly where shopping 30+ relationships pays off.

Who needs jumbo financing

High-value home purchases

Any property priced above the conforming limit for your area requires jumbo or a combination loan structure.

Strong-income, strong-asset borrowers

Jumbo underwriting typically expects solid reserves, strong credit, and a well-documented income history.

Self-employed high earners

Bank statement and asset-based jumbo programs exist for borrowers whose tax returns don't reflect full cash flow.

Refinance of an existing high-balance loan

Jumbo refinancing follows the same lender-shopping principle as purchase.

Jumbo loan highlights

  • Finance amounts above the conforming loan limit
  • Fixed and adjustable-rate options available
  • Access to 30+ jumbo lending partners through Chicago Mortgage Guy
  • Bank-statement and asset-based programs for self-employed borrowers
  • Available for primary, second home, and investment property
CMG

Jumbo financing, honestly

Where jumbo shines — and what it asks of you

Advantages

  • Finances homes conventional limits can't reach
  • Competitive rates available through lender shopping
  • Flexible documentation options for self-employed borrowers
  • No government mortgage insurance requirement

Considerations

  • Typically requires stronger credit and larger reserves
  • Down payment requirements often higher than conforming loans
  • Underwriting standards vary significantly by lender
  • Closing timeline can run longer with more extensive documentation

Jumbo loan questions

What buyers ask us most

What counts as a jumbo loan in my area?
It depends on the conforming loan limit set annually for your specific county. Send Patrick your target price range and he'll confirm whether you're in jumbo territory.
Do I need 20% down for a jumbo loan?
Not always — some jumbo programs go as low as 10%, though terms and mortgage insurance requirements vary by lender. We'll show you real options across our lending partners.
Can self-employed borrowers get jumbo financing?
Yes — bank statement and asset-based jumbo programs exist specifically for self-employed borrowers whose tax returns understate true cash flow.
Why shop multiple jumbo lenders instead of just one bank?
Because jumbo underwriting isn't standardized like conforming loans — rates, reserve requirements, and credit thresholds vary meaningfully lender to lender. That's exactly why we work with 30+ partners.

Let's find the right jumbo lender for your deal

Send Patrick your price range and financial picture — he'll shop it across our jumbo lending partners.

Start my application → Call (773) 354-3135