In 2025, jumbo loans are those above $806,500 in most US counties (higher limits apply in expensive markets). They're not eligible for purchase by Fannie/Freddie, so they stay on lenders' books or are sold to private investors.

Jumbo loans typically require higher credit scores (700+), larger down payments (10-20%), and more cash reserves (6-12 months of mortgage payments).

Rates on jumbos used to be higher than conforming loans but are now often comparable or even lower for well-qualified borrowers.