Jumbo Loans

Jumbo loans are larger than most conventional home loans, but are still considered a “traditional” loan program.


If you are looking to apply for a Jumbo Loan then you are typically considering a property that is above the market’s average. Having the ability to borrow this amount of money is very beneficial, but getting approved for a jumbo loan is becoming more difficult each year. When beginning this process, you will want an Arizona mortgage specialist on your side.

Depending on the region and neighborhood you live in, a $400,000 property can either be a very nice or a very basic home. In the metro Phoenix market, the conventional loan limit is $484,350, which does cut out financing for a large number of higher priced properties. The maximum amount for federal home loans is determined by Fannie Mae and Freddie Mac, who work diligently year-round to determine what “regular” loan limits should be. The government-sponsored mortgage entities set the limits around these averages and classify the conforming loan limit as a Jumbo Loan.

While shopping for a Jumbo Loan, you will begin to notice this type of loan has a higher interest rate than conventional mortgages. With higher Arizona interest rates, the Jumbo Loan has increased flexibility during the pre qualification process, as well as a differing pay schedule once you close. The rate has the ability of being fixed or adjustable, as some Jumbo Loans only have an interest-only option available. Jumbo Loan characteristics are ever-changing and you should take time to discuss this in detail with us.

The pre-qualification process is similar to conventional mortgages, putting emphasis on higher credit score and income expectations that should be apparent due to the loan’s higher borrow amount. Price Mortgage also offers refinancing benefits in this regard that should be considered as well.


  • Those with down payments of at least 25%
  • A Jumbo Loan exceeding $650,000 requires a specific credit score


  • VA Jumbo Loan – This borrowing strategy is essentially an Arizona VA loan that exceeds $483,350
  • Exceptions are made regarding inferior housing in a more expensive market
  • The Jumbo Loan isn’t an option when it comes to Arizona variable rate mortgages
  • There is an option to pay or finance your funding fee with this Arizona mortgage
Have a Question About Jumbo Loans? Contact Me Today!
Ryan & Jessica Ehler Loan Officer

Ryan & Jessica Ehler