Built for bigger numbers
Out in Dripping Springs and Driftwood, jumbo comes up constantly. Once a purchase runs past the conforming limit for the county, the loan moves into a different world. More reserves, tighter documentation, more scrutiny on how your income is actually structured.
Jumbo is also where lender-to-lender pricing spreads get widest. Two wholesale lenders can look at the identical borrower and land meaningfully far apart, because each one has its own appetite for that loan size, that property type, and that income profile. Shopping is not a nice-to-have here.
If your income is self-employed or asset-heavy rather than a straightforward salary, that is not a problem for jumbo. It just changes which lenders on the panel are worth approaching.
Quick facts
- Down payment
- Typically 10% to 20%, varies by lender and loan size
- Credit guidelines
- Generally 700+
- Typical timeline
- Typically 30 to 45 days, longer if two appraisals are required
- Occupancy
- Primary, second home, or investment
What it usually takes
- Stronger credit and meaningful cash reserves after closing
- Full documentation of income, or a bank statement structure if you are self-employed
- A larger down payment than conforming, though not always the 20 percent people assume
- An appraisal that supports the number, sometimes two on larger loans
Guidelines vary by lender, and I shop across more than 40 of them. Missing one of these is a reason to talk, not a reason to assume the answer is no.
See the estimated mathThis is not a commitment to lend. All loans are subject to credit approval, income and property verification. Rates, terms, and programs are subject to change without notice. Nook Lending is powered by MPA Home Loans. Jennifer Ferrara, Loan Officer, NMLS #2781982. MPA Home Loans NMLS #2778343. Equal Housing Opportunity.