Home / Loan programs / Jumbo
SpecialtyA jumbo loan is simply a mortgage larger than the conforming limit for that county. In high-cost New Jersey counties the jumbo line is higher than in most of Pennsylvania — so the same purchase price can be conforming in one ZIP and jumbo in another.
Conforming loans sit at or under the FHFA county limit and are generally eligible for Fannie Mae or Freddie Mac. Jumbo (non-conforming) loans sit above that line. For 2026, FHFA’s one-unit baseline is $832,750. In FHFA’s 2026 county file, Pike County, PA, and the New Jersey counties in the New York metro area carry a higher one-unit limit than the baseline; the exact figure is in the FHFA file linked below. A $900,000 loan can be jumbo in Lancaster County and conforming in Bergen County.
Jumbo is not a government insurance program. Investors set credit, reserve, down-payment, and documentation rules. Those rules are typically tighter than a baseline conforming file: more reserves, stronger credit, and clearer asset seasoning.
Confirm county limits on FHFA’s page or this site’s PA and NJ county pages. Retrieved 2026-09-12.
Buyers and refinance clients whose loan amount will not fit conforming — including higher-priced owner-occupied homes, some second homes, and some investment properties depending on the investor. High-net-worth is not a requirement; a ordinary household in a high-cost New Jersey county may need jumbo simply because prices cleared the local conforming cap.
Expect a full documentation file. Investors often want larger cash reserves after closing, lower DTIs, and cleaner credit than a minimum conforming overlay. Down-payment expectations are often higher than a 3% conforming purchase. We will not invent a jumbo down-payment percentage or a score floor here because they vary by investor and occupancy.
FHA has its own HUD county limits, which may be lower than conforming. If the loan amount exceeds both FHA and conforming, jumbo (or a piggyback structure) is the conversation. If you are just under the conforming cap, staying conforming is usually simpler. We will run the county limit before we label anything jumbo.
Most Pennsylvania counties sit at the 2026 baseline. Pike is the Pennsylvania high-cost exception in the FHFA file we parsed. New Jersey splits between baseline southern/western counties and high-cost northern/shore counties. Always use the county page rather than a statewide jumbo speech.
Figures that change each year live at the source, not on this page.
Above the FHFA conforming limit for that county. Baseline one-unit is $832,750. High-cost PA/NJ one-unit in our file is the county high-cost limit. Confirm on FHFA or the county page.
Usually yes on reserves, credit, and documentation, because the loan is not a standard GSE purchase. The exact overlays depend on the investor.
Investor rules vary. Many jumbo programs expect more equity than a 3% conforming purchase. Ask us for the program that fits the occupancy and LTV; do not assume FHA-style MIP or standard PMI.
Housing-finance agency first mortgages are built around agency and GSE limits, not jumbo. If the amount is jumbo, HFA stacking is usually the wrong tool. Confirm on the agency site.
Written by Steve Umansky, Sr. Branch Manager, NMLS #61764. Last reviewed 2026-09-15. Program parameters are subject to change and to the guidelines in effect at application. Not a commitment to lend.
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