Jumbo Loans FAQ

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What is a jumbo loan?

A jumbo loan is a mortgage with a loan amount above the annual conforming loan limit set by the Federal Housing Finance Agency (FHFA). For 2026 the baseline conforming limit is $832,750 in most counties. Loans above that limit can’t be sold to Fannie Mae or Freddie Mac, so they’re priced and underwritten as jumbo (non-conforming) loans.

What does “jumbo” mean in mortgage terms?

“Jumbo” just means “above conforming.” It’s not a quality marker or a luxury label — it’s purely a loan-size category. A $900,000 mortgage in Kansas is a jumbo. A $900,000 mortgage in San Francisco may still be conforming because the county loan limit there is over $1.24 million.

Why do jumbo loans exist as a separate category?

Because Fannie Mae and Freddie Mac (the two government-sponsored entities that buy most US mortgages) have a maximum loan size they’re allowed to purchase. Above that maximum, the loan has to be either held by the originating lender or sold into private secondary markets. That changes how the loan is priced and underwritten.

How many jumbo programs are there?

Eight distinct jumbo programs across the matrix. They differ by credit floor (660 to 720), max LTV (80% to 90%), max loan amount ($1M to $5M), DTI cap (43% to 50%), and special features like interest-only or AUS-driven underwriting. The right program depends on your specific file — credit, down payment, loan size, and documentation profile.

Are jumbo loans riskier than conforming?

For the borrower, no — a jumbo loan works the same way at closing as any other mortgage. For the lender, the larger loan size means more dollars at risk per file, which is why credit and DTI rules are tighter. Jumbo borrowers tend to be more financially stable on average (higher credit, more reserves), so jumbo loan default rates are usually lower than conforming.

What’s the 2026 conforming loan limit?

$832,750 in most counties for a one-unit property. In designated high-cost counties the limit goes up to $1,249,125 — 150% of the baseline. Two-unit, three-unit, and four-unit properties have higher limits in proportion.

What counts as a “high-cost area”?

Counties where the FHFA has determined median home prices significantly exceed the national average. The list includes most of the San Francisco Bay Area, Los Angeles County, parts of New York City and surrounding counties, Hawaii, Alaska, and the DC metro area (parts of DC, Maryland, and Virginia). The full list is published annually by the FHFA.

What’s a high-balance loan?

A high-balance loan is a conforming loan in a high-cost county — meaning a loan amount between the standard county limit ($832,750) and the high-cost county limit ($1,249,125). High-balance loans are still conforming (they can be sold to Fannie/Freddie), they just have slightly different pricing. Above the high-cost county limit, the loan becomes jumbo.

Is my county a high-cost area?

We check that at intake. If you’re in a high-cost county, you may have a higher conforming ceiling and not need a jumbo at all. Common high-cost markets include San Francisco, San Jose, Los Angeles, Orange County, parts of King County WA, parts of Westchester NY, and the entire DC metro.

What credit score do I need for a jumbo loan?

680 is the most common minimum across jumbo programs. Some programs go down to 660 with restrictions (specifically, higher down payment or tighter DTI). Entry-level jumbo and AUS-driven jumbo paths typically require 720+. Above 720, you have the widest selection of programs available.

What’s the lowest credit score that qualifies for any jumbo program?

660. Available on specific jumbo programs (typically with 43% DTI cap and higher down payment requirements). Below 660, the conventional jumbo programs don’t have a path — but non-QM jumbo products may still work depending on your credit story.

What credit score gets me the best jumbo rate?

Generally 740+. Jumbo lenders typically tier pricing in 20-point credit bands. The largest pricing improvement happens around 740 — file pricing improves materially above that threshold. Above 780, rate improvements get marginal.

If I have a co-borrower, which credit score is used?

The lower of the two median scores. Each borrower gets a median score (middle of three credit bureaus). The lower of the two median scores becomes the file’s qualifying credit score. This makes a co-borrower with weaker credit a meaningful drag — sometimes it’s better to leave that co-borrower off the loan even if they contribute income elsewhere.

Does a higher credit score mean less down payment?

Yes. Higher credit unlocks higher LTV (lower down payment). At 740+ credit you can hit the 89.99% LTV ceiling on multiple jumbo programs (10% down). At 660 credit you’re typically limited to 80% LTV (20% down).

Can I get a jumbo loan with 10% down?

Yes. The 10% down (89.99% LTV) jumbo option is available up to $2 million on multiple programs — generally requires 700+ credit, full doc, and appropriate reserves. The 10% down version is more sensitive to credit and reserves than the 20% down version.

Can I get a jumbo loan with 5% down?

5% down on a jumbo isn’t standard in this matrix. The lowest down payment available is 10% (89.99% LTV) on most programs and 10% (90% LTV with lender-paid MI built into the rate) on one specific program. The VA jumbo path can effectively be zero down if you have full VA entitlement.

What’s the maximum jumbo LTV?

89.99% on multiple programs (10% down). 90% on one specific program with lender-paid MI built into the rate, up to $900,000 loan amount. Above 90% LTV is not available on jumbo (other than VA jumbo with full entitlement).

Can I get a jumbo loan with no PMI?

Yes. Most jumbo programs do NOT require PMI even at 89.99% LTV. The lender absorbs the higher-LTV risk through pricing rather than PMI. The exception is the 90% LTV jumbo program, which uses lender-paid MI baked into the rate.

Can I use gift funds for my down payment?

Yes, after documenting a minimum borrower contribution. On primary residences at 70% LTV or less, the borrower must make a 5% minimum contribution from their own funds. Above 70% LTV, that minimum rises to 10%. On second homes and investment properties, the borrower must make the full down payment from their own funds (gifts not permitted).

Can the seller pay my closing costs on a jumbo loan?

Yes, within standard interested-party contribution limits (typically 3-6% depending on LTV). Jumbo programs follow standard agency-style IPC rules. We structure the seller credit in the contract to maximize benefit at closing.

Are temporary buydowns available on jumbo loans?

No. The matrix is explicit: temporary buydowns are not allowed on any of the jumbo programs. Buydowns are available on conventional and non-QM products but not on these jumbo programs.

What’s the maximum DTI on a jumbo loan?

43% on most jumbo programs. 45% on a few programs (typically the lender-paid MI program). 50% on the AUS-driven jumbo path (which follows Desktop Underwriter or LPA findings). Most jumbo borrowers come in well below the cap.

How do jumbo lenders document income?

Full doc. For W-2 borrowers: pay stubs, W-2s for 2 years, and tax returns. For self-employed borrowers: 2 years of personal AND business tax returns, plus a year-to-date P&L if the loan is more than 90 days after year-end. Verbal verification of employment within 10 days of closing.

Can I get a jumbo loan if I’m self-employed?

Yes — through either path. Full-doc jumbo if your tax returns clearly support the qualifying income (after write-offs) at 43% DTI or less. If write-offs reduce your tax return income below what you need to qualify, non-QM jumbo (bank statement, 1099, P&L, or asset depletion) is the better path. Many self-employed borrowers buying jumbo homes route through non-QM.

Can rental income from other properties help me qualify?

Yes. Documented rental income from properties you own gets added to your qualifying income (offset against the mortgage debt on each rental). Schedule E from your most recent tax returns is the primary source. If using positive self-employment or rental income, 18 months of reserves are typically required (on certain jumbo programs) versus 12 months without.

What if I have stock-based compensation (RSUs, options)?

Vested RSU income and consistent stock-based compensation can be included in qualifying income on jumbo programs with documented 2-year history and continuation likelihood. Variable annual amounts get averaged. Unvested stock typically doesn’t count. We review your specific compensation structure at intake.

No SSN required. Takes about 2 minutes.

What’s the maximum jumbo loan amount?

Up to $5 million on the interest-only jumbo program at 80% LTV. Up to $3 million on the fully amortizing jumbo with 80% LTV cash-out. Most jumbo loans land between $832,750 and $3 million. Above $5 million is “super jumbo” — typically handled on a custom basis with portfolio lenders.

What’s a super jumbo loan?

An informal term for jumbo loans above the $2 million to $5 million range, depending on the lender. Super jumbo borrowers typically need stronger credit (740+), larger reserves (24-36 months), and more conservative LTV (often 75% or less). The matrix has paths up to $5 million on the interest-only program.

Can I get a $3 million jumbo loan?

Yes. The matrix supports $3 million loan amounts on several programs — typically requires 740+ credit, 70-80% LTV depending on program, and 24+ months of reserves. Cash-out at $3 million has its own LTV cap (typically 80%).

Can I get a $5 million jumbo loan?

Yes, on the interest-only jumbo program. The $5 million ceiling applies to 80% LTV purchase and 75% LTV cash-out under the interest-only structure. LTV restrictions apply for first-time homebuyers and non-permanent resident aliens at this loan size.

Are there limits above $5 million?

$5 million is the program ceiling on standard jumbo paths. Above that, loans get structured through portfolio relationships, custom underwriting, or sometimes split across multiple loans. We can route specific large-loan scenarios at intake.

What’s the difference between a jumbo loan and a non-QM jumbo loan?

Jumbo loans use full-doc income (W-2s, tax returns) and follow Qualified Mortgage rules. Non-QM jumbo loans use alternative documentation (bank statements, 1099s, P&L, or assets) and don’t have to meet QM requirements. The home and the closing process are the same — the difference is entirely in how income is documented and qualified.

Are non-QM jumbo rates higher than regular jumbo rates?

Historically yes, but the gap has narrowed significantly. In recent rate environments, non-QM jumbo pricing has come within a small premium of traditional jumbo pricing — sometimes within 0.25-0.50% of similar full-doc terms. The exact difference depends on credit, LTV, loan size, and current market conditions, but the days of non-QM costing 1-2% more than jumbo are largely behind us.

When is jumbo (full doc) the right choice?

When your W-2 income or tax-return income clearly supports the loan at 43% DTI or less. When you have 2 clean years of stable, documented income. When you want the easiest underwriting path and the lowest rate. Most W-2 borrowers with strong incomes go full-doc jumbo because there’s no qualifying advantage to non-QM.

When is non-QM jumbo the right choice?

When tax returns understate your real income because of business write-offs. When you’re self-employed and your CPA-managed deductions push your qualifying income below where you need it. When you need higher DTI flexibility (up to 50-55% on non-QM vs 43% on most jumbo). When you have substantial assets but limited W-2 income (asset depletion). When you have 1099 income or commission income that doesn’t fit clean W-2 boxes.

Can I use a bank statement jumbo loan?

Yes. The non-QM bank statement loan goes up to $3.5M — well into jumbo territory. 12 or 24 months of personal or business bank statements as the documentation. Same rules as the standard bank statement loan (660 credit, up to 89.99% LTV at top credit/lower loan amounts, full prepay-penalty-free on primary residences).

Can I use a DSCR jumbo loan?

Yes, on investment properties only. DSCR loans go up to $2.5M ($1.5M for foreign nationals). They qualify on the property’s rental income rather than your personal income — useful for investors who want to add property without further documenting personal income.

How do I decide between full-doc jumbo and non-QM jumbo?

Run the math both ways. Step 1: calculate qualifying income from tax returns at 43% DTI to see if the conventional jumbo supports your purchase. Step 2: calculate qualifying income under the relevant non-QM path (bank statement, 1099, P&L, or asset depletion). Step 3: compare rates side by side. If full-doc jumbo qualifies you for the price you need at a meaningfully better rate, go full doc. If non-QM is needed to qualify OR the rate gap is small, non-QM wins. We do this comparison at intake.

Does non-QM jumbo carry a prepayment penalty?

Generally no on primary residences. Yes on investment properties (where the prepay can be bought out at origination by accepting a slightly higher rate). Full-doc jumbo loans don’t carry prepayment penalties on any occupancy type. If you plan to refinance or sell within 2-3 years, that’s a factor in choosing between the two paths.

What is a VA jumbo loan?

A VA jumbo loan is a VA-backed mortgage above the standard county conforming limit. Veterans with full VA entitlement can borrow VA jumbo amounts with no down payment in most counties. Above your remaining entitlement, the VA backs the loan up to the entitlement and you typically need 25% down on the portion above.

How much can a veteran borrow on a VA jumbo loan?

With full VA entitlement: there is no maximum loan amount the VA will guarantee, though the lender’s overlay typically caps the loan at around $2 million. Above $2 million, the file gets quoted on a case-by-case basis. We can structure VA jumbo files up to and including $1.5-2 million routinely.

Do I have to put money down on a VA jumbo?

If you have full VA entitlement, no — even above the county conforming limit. If you have partial entitlement (you’ve used some on a prior VA loan that’s still active), you’d typically owe 25% of the difference between your remaining entitlement and the loan amount. We calculate your specific entitlement at intake.

What’s the rate difference on a VA jumbo vs a conventional jumbo?

VA jumbo rates are typically lower than conventional jumbo because the VA guaranty reduces lender risk. The exact difference depends on credit, loan size, and current market conditions. Most veterans with eligibility find VA jumbo to be the better deal compared to going conventional jumbo for the same loan amount.

Is there a funding fee on a VA jumbo loan?

Yes — the standard VA funding fee applies and is calculated on the full loan amount. The fee is reduced for borrowers with VA disability and waived entirely for 100% disabled veterans. We walk through your specific funding fee at intake.

How much in reserves do I need for a jumbo loan?

6-36 months of full monthly mortgage payments (PITIA — principal, interest, taxes, insurance, association dues if applicable). The exact number depends on the program, loan amount, occupancy, and LTV. Smaller loans typically need 6-12 months; loans over $2 million often need 24+ months.

What counts as reserves on a jumbo loan?

Cash in checking and savings, money market accounts, brokerage accounts, mutual funds, stocks, bonds, and retirement accounts (counted at a percentage of value). Retirement accounts you can’t access without penalty typically get a haircut (often 60-70% of face value depending on program).

Do I need extra reserves if I own other properties?

Yes. Most jumbo programs require an additional 2 months of PITIA reserves for each additional residential property you own. So if you own 2 other homes besides the subject property, that’s an extra 4 months of reserves on top of the program’s base requirement.

Why do jumbo loans require more reserves than conforming?

The dollar exposure per month is bigger on a jumbo loan, so the lender wants more cushion. A 12-month reserve requirement on a $2M jumbo at $12,000/month payment means $144,000 set aside. That same 12-month requirement on a $400K conforming at $2,500/month is only $30,000 — same multiple, very different absolute dollar amounts.

Can I get a jumbo loan for a primary residence?

Yes. Owner-occupied primary residences are eligible on all jumbo programs. They get the most favorable LTV (up to 89.99% with no PMI on most, 90% with MI on one) and the best rates within each program.

Can I get a jumbo loan for a second home?

Yes. Second homes are eligible on all 8 jumbo programs. Expect tighter LTV (typically 75-80% maximum) and slightly higher rates than primary residence. Borrower must make the full down payment from own funds (gifts not permitted on second homes).

Can I get a jumbo loan for an investment property?

Yes on most jumbo programs (two of the eight are primary/second-home only). Investment property jumbo programs have tighter LTV (typically 65-75% maximum), higher rates, and require 2 months additional reserves per additional financed property. If the rental income is strong, a DSCR loan may be a better fit.

What property types are eligible?

Single-family residences (attached and detached), planned-unit developments, townhomes, 2-4 unit small multifamily on most programs, and warrantable condos. Non-warrantable condos qualify on select non-QM jumbo paths but generally not on full-doc jumbo programs.

Can a non-permanent resident get a jumbo loan?

Yes on most jumbo programs. Non-permanent resident aliens (visa holders) are eligible with LTV restrictions — typically capped at 80% LTV rather than the 89.99% available to US citizens. Acceptable visa types are listed in each product profile. ITIN borrowers route through the non-QM jumbo path instead.

Can a first-time homebuyer get a jumbo loan?

Yes. First-time homebuyers are eligible on jumbo programs with LTV restrictions at higher loan amounts. The matrix calls out “LTV restrictions for First Time Home Buyers” on multiple programs — typically meaning a slightly lower max LTV (capped at 80% instead of 89.99% on first-time buyer files above certain loan amounts).

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Can I refinance my current mortgage with a jumbo loan?

Yes. Both rate-and-term refinances (improving your rate or term without cash out) and cash-out refinances are supported across all 8 jumbo programs. Texas Section 50(a)(6) home equity refinances are allowed only on the interest-only jumbo program with separate state-specific rules.

What’s the maximum LTV on a jumbo cash-out refinance?

Varies by program: 70% on entry-level (up to $1M), 75% on most mid-range programs, up to 89.99% on one specific program (up to $2M with strong credit). The matrix has very different cash-out LTV/loan amount combinations across programs — we match your scenario to the right one.

How much cash can I pull out of a jumbo refinance?

Up to $1.5M to $3M depending on program and LTV. Cash-out is the difference between the new loan amount and the existing mortgage payoff (plus closing costs). Loans up to $5M support cash-out at 75% LTV on the interest-only program.

Can I refinance from a non-QM loan into a full-doc jumbo loan?

Yes — common path. Many borrowers use a non-QM loan to acquire the home (when tax returns don’t yet support the income), then refinance into a full-doc jumbo loan once they have 2 clean years of tax returns supporting the qualifying income. The rate improvement on that refinance can be meaningful.

Can I do a jumbo IRRRL streamline like on a VA loan?

VA jumbo loans can use the standard VA IRRRL streamline refinance program — same simplified process as any other VA streamline. Conventional jumbo loans don’t have an IRRRL equivalent; rate-and-term refinances on conventional jumbo go through full underwriting.

What loan terms are available on jumbo loans?

15-year fixed and 30-year fixed are standard across all 8 programs. 20-year and 25-year fixed available on select programs. ARM options include 5/6, 7/6, and 10/6 SOFR ARMs (most programs); a few programs still offer 7/1 and 10/1 ARMs. The interest-only program has the widest ARM selection.

Is interest-only available on jumbo loans?

Yes, on the specific interest-only jumbo program. Interest-only is available on 5/6, 7/6, and 10/6 SOFR ARMs and goes up to $5 million at 80% LTV. The interest-only period typically lasts 10 years, after which the loan amortizes over the remaining 20 years. Interest-only is NOT available on most other jumbo programs.

Are ARMs a good idea on a jumbo loan?

Sometimes — depends on your timeline. A 7/6 ARM holds the rate fixed for 7 years then adjusts every 6 months thereafter. If you’ll sell or refinance within 7 years, an ARM can save meaningfully versus a 30-year fixed. If you’ll hold the home longer, the rate-reset risk after the fixed period needs to be modeled. We run both scenarios at intake.

Is there a prepayment penalty on a jumbo loan?

No on conventional jumbo loans across all 8 programs. Yes on non-QM jumbo loans for investment properties (the prepay can be bought out at origination). Texas Section 50(a)(6) home equity refinances have specific Texas restrictions on prepayment language.

Are jumbo mortgage rates higher or lower than conventional?

As of mid-2026, sometimes lower. Conventional loans carry agency guarantee fees and loan-level price adjustments baked into the rate because they’re sold to Fannie Mae and Freddie Mac. Jumbo loans are portfolio loans — banks and investors hold them and compete for them, and right now that competition is producing jumbo pricing at or below conventional in some scenarios. If your loan amount is near the conforming limit, price it both ways before assuming anything.

Can I recast a jumbo loan?

On some programs, yes — and it’s one of the most useful features in jumbo lending. A recast means you make a large principal payment and the servicer recalculates your monthly payment on the new balance, keeping your rate and term. No refinance, no new closing costs. But several jumbo programs prohibit recasting entirely, so if your plan is to sell another home and pay the loan down after closing, we place the loan with a program that allows it — that decision has to happen before you lock, not after.

Are temporary buydowns allowed on jumbo loans?

No. The matrix is explicit: temporary buydowns are not allowed on any of the conventional jumbo programs. They are allowed on non-QM jumbo products (specifically the flexible version of those programs). If a temporary buydown is essential to your purchase strategy, the non-QM jumbo path is the route.

Can I get a jumbo loan after bankruptcy?

Yes. Most jumbo programs require 4-7 years from bankruptcy discharge depending on the program and chapter (7 vs 13). Below that seasoning window, the non-QM jumbo path may still work — non-QM allows as little as 12 months from discharge on the credit-recovery tier with stricter DTI rules.

Can I get a jumbo loan after foreclosure or short sale?

Yes, with seasoning. Most conventional jumbo programs require 4-7 years from a housing event. Non-QM jumbo paths allow as little as 24 months on the standard credit-recovery tier, or settled prior to closing on the recent-event tier.

Can I get a jumbo loan with late mortgage payments in the last year?

Conventional jumbo generally requires clean mortgage history — 0x30x12 (no 30-day lates in the last 12 months) is standard. One isolated 30-day late may be allowed with strong compensating factors. Multiple recent lates typically route through non-QM jumbo (which allows broader credit events with stricter DTI).

What about collections, judgments, or tax liens?

Larger open collections, judgments, and tax liens typically need to be paid off or on a documented payment plan before closing on a jumbo loan. Smaller or older collections may be addressed with a letter of explanation. We review your specific credit report at intake.

Can I get a jumbo loan using asset depletion?

Yes — through the non-QM asset depletion path, which qualifies you on your liquid assets rather than monthly income. Asset depletion is treated as a Full Doc path within the non-QM program and goes up to $3.5M with the same LTV/credit tiers as the broader Income Qualifying program. See the Asset Depletion Loans FAQ for the full mechanics.

Can a first-time buyer get a 10% down jumbo?

Possibly — most jumbo programs note LTV restrictions for first-time homebuyers at higher loan amounts, but 10% down up to $1.5-2M is achievable for first-time buyers with strong credit (typically 720+) and adequate reserves. We confirm program eligibility at intake.

Can a non-occupant co-borrower be on a jumbo loan?

Allowed with restrictions on most jumbo programs (specifically 4 of the 8). Two of the 8 programs do not allow non-occupant co-borrowers. The non-occupant co-borrower (typically a parent helping a child qualify) gets income and credit considered jointly with the occupying borrower.

Can a jumbo loan vest in a trust?

Yes on most programs. Inter Vivos Revocable Trusts are explicitly listed as eligible on one of the programs. Other trust structures may qualify case by case. We’ll confirm trust eligibility at intake based on your specific trust structure.

Can I get a jumbo loan in Texas with home equity (50(a)(6))?

Yes, but only on one specific jumbo program. Texas Section 50(a)(6) home equity refinances are allowed on the interest-only jumbo program with state-specific terms (must be 1 unit, all Texas Home Equity requirements applied). Other jumbo programs explicitly note “Texas Section 50(a)(6) not allowed.”

Step 1: Start the intake.

Fill out the short intake form. No SSN. No hard credit pull. About 2 minutes. We use this to figure out which jumbo path fits — full doc, AUS-driven, non-QM, or VA jumbo.

Step 2: Pre-qualification call.

We talk through your income, credit, down payment, target purchase price, and timeline. We map your scenario to the right program out of the 8 jumbo paths (or to a non-QM jumbo product if that’s the better fit). You leave knowing your loan capacity, monthly payment, and what’s needed for formal pre-approval.

Step 3: Formal pre-approval.

You submit 2 years of W-2s and tax returns, recent pay stubs, asset statements (2 months minimum, often longer for reserves), ID, and any other supporting documents. We pull credit. The lender reviews and issues a pre-approval letter. Jumbo pre-approvals carry more weight than conforming because the underwriting is more thorough up front.

Step 4: House hunt and contract.

Find your home. Your agent writes the offer with the pre-approval letter attached. Some sellers in luxury markets specifically ask for the lender’s contact information — jumbo files come in cleaner when the lender can speak to the listing agent directly.

Step 5: Appraisal.

Jumbo loans above $2 million typically require two full appraisals (independent reports from two appraisers). Below $2M, one appraisal is standard. Luxury home appraisals can take longer than typical because comparable sales are harder to find in high-end markets.

Step 6: Underwriting.

A human underwriter reviews the full file — income documentation, assets, credit, property, and any letters of explanation. Jumbo underwriting is more rigorous than conforming — expect more conditions and more thorough review of every income source. Conditions come back, you provide what’s asked, and once they clear the file is “clear to close.”

Step 7: Closing.

You receive the Closing Disclosure at least 3 business days before closing. Review final terms. At closing, you sign at the title company or attorney’s office, funds wire (jumbo wires often require advance notice with the bank to clear large-transaction holds), the deed records, and you get the keys.

What if I have trouble making payments?

Call the servicer immediately — don’t wait. Most servicers have hardship programs: temporary forbearance, repayment plans, loan modifications. A HUD-approved housing counselor can help you navigate the options.

No SSN required. Takes about 2 minutes.

About this guide: Written by J.D. Peck, NMLS #314883, Area Manager and Mortgage Loan Originator at Paramount Residential Mortgage Group (PRMG), NMLS #75243. 25+ years of mortgage lending experience, 3,100+ loans closed, Scotsman Guide Top Originator 2026. Specialties: VA loans, manual underwriting, jumbo and super-jumbo financing, and non-QM products for borrowers whose income picture doesn’t fit standard W-2 documentation. Every answer above is built from the current jumbo product comparison matrix (revised 5/18/2026) covering 8 distinct jumbo programs, plus the non-QM income qualifying matrix (06/04/2026) for the non-QM jumbo comparison. Guidelines, fees, and limits are subject to change. Lending in 49 states. New York excluded. Last updated June 6, 2026.