Jumbo loans finance home purchases that exceed the conforming loan limits set for conventional mortgages. Because these loans aren't backed by Fannie Mae or Freddie Mac, lenders typically look for stronger credit, larger reserves, and a lower debt-to-income ratio — but for the right borrower, they open the door to higher-value homes without needing a second loan.
Who it's for
- Buyers purchasing above the conventional conforming loan limit for Middle Tennessee
- Move-up buyers targeting larger or higher-value homes
- Borrowers with strong credit, income documentation, and cash reserves
- Self-employed and high-net-worth buyers who need a lender comfortable with complex financials
Key features
- Financing for loan amounts above standard conforming limits
- Fixed and adjustable-rate options available
- Typically requires stronger credit scores and larger cash reserves than conventional loans
- Down payment requirements vary based on loan size and borrower profile
- Available for primary residences, second homes, and investment properties
