π Jumbo Loan Calculator
Payments plus the jumbo/conforming line.
Monthly principal and interest
Estimates for planning only, not financial advice.
A jumbo loan is any mortgage above the conforming limit, which the FHFA set at $832,750 for most of the US in 2026. Borrow $900,000 at 7% for 30 years and the monthly principal and interest is $5,987.72. Because the loan exceeds the limit by $67,250, it is jumbo: different underwriting, usually a slightly higher rate, and no sale to Fannie Mae or Freddie Mac.
How to Use This Calculator
Enter the loan amount, rate, and term. The calculator flags jumbo versus conforming against the 2026 baseline limit and shows the payment and total interest.
Enter the loan amount you need.
Enter the rate and term.
Read the jumbo flag, payment, and total interest. For the full payment with taxes and insurance, our mortgage payment calculator adds the rest.
The Jumbo Line for 2026
The FHFA raised the baseline 3.26% for 2026 on the House Price Index. In high-cost counties the limit scales up to $1,249,125, so a $900,000 loan can be conforming in San Francisco and jumbo in Phoenix. Jumbo loans typically demand higher credit scores, larger reserves, and lower debt-to-income ratios, and they price about 0.25 to 0.50 points above conforming in normal markets. Some lenders portfolio jumbos and price them tighter; shop them separately from conforming quotes.
Worked Example
$900,000 at 7% for 30 years: monthly rate 0.5833%, 360 payments, payment $5,987.72. Total paid is about $2.16M, so interest is roughly $1.26M. The loan is $67,250 over the $832,750 baseline, making it jumbo in a standard county. Dropping the loan to exactly $832,750 would cut the payment to about $5,540 and open the conforming market with its deeper investor demand and standardized underwriting.
Staying Under the Line
Three legitimate ways to dodge jumbo status: a bigger down payment to get the loan under the limit, an 80-10-10 piggyback with a second mortgage covering the gap, or buying in a high-cost county where the ceiling is higher. Each has costs: piggyback seconds carry higher rates, and stretching the down payment drains reserves lenders want to see. Compare the all-in cost, never the label alone.
My advice: get quotes both ways whenever you are near the line. Sometimes the jumbo rate from a portfolio lender beats the conforming rate, and the label matters less than the payment. But never assume; the jumbo premium is real on average, and the underwriting is stricter without exception. Check affordability first with our home affordability calculator.
Estimates for planning only, not financial advice.
Frequently Asked Questions
What is a jumbo loan?
A mortgage larger than the FHFA conforming loan limit, $832,750 for most of the US in 2026. It cannot be sold to Fannie Mae or Freddie Mac, so lenders keep it or sell it privately, with stricter underwriting.
What is the 2026 conforming loan limit?
A baseline of $832,750 for one-unit properties in most counties, up to $1,249,125 in high-cost areas. Alaska, Hawaii, Guam, and the Virgin Islands have higher statutory limits.
Are jumbo rates higher?
Usually, by roughly 0.25 to 0.50 percentage points in normal markets, reflecting the lack of agency backing. Spreads widen in stress and can invert briefly when portfolio lenders compete.
What credit score do jumbo loans need?
Typically 700 to 720 minimum, with the best pricing above 740. Lenders also want 6 to 12 months of reserves and debt-to-income ratios under 43%, often under 38%.
Can I avoid jumbo with a piggyback loan?
An 80-10-10 structure uses a second mortgage for 10% to keep the first under the limit. It works but the second carries a higher rate, so compare the blended cost against a straight jumbo.
Do jumbo loans allow low down payments?
Rarely below 10%, and 20% is the norm for the best terms. Low-down-payment jumbo exists at some lenders but prices accordingly. PMI on jumbo is uncommon; pricing adjusts instead.
Is a $900,000 loan always jumbo?
No. In high-cost counties with limits up to $1,249,125, it can be conforming. Always check your county limit; the same loan amount changes categories across county lines.
How do jumbo loans affect refinancing?
The same limits apply. A conforming loan that grew, or a home whose value fell, can refinance into jumbo territory, changing the rate and underwriting you face.
What down payment avoids jumbo?
Enough to bring the loan to $832,750 or your county limit: on a $1M purchase in a standard county, that means $167,250 down, or 16.7%. Many buyers combine a bigger down payment with a small second loan to cross the line.
Do jumbo loans have prepayment penalties?
Rarely these days. Most jumbo products carry no prepayment penalty, but always confirm: a penalty clause on a large loan is an expensive surprise if you refinance early.
Are jumbo loans harder to qualify for?
Yes, meaningfully. Expect full documentation, higher score minimums, larger reserves, and lower DTI caps than conforming. Self-employed jumbo borrowers face the deepest scrutiny of income.