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What is it?

Jumbo loans are higher balance loan amounts that exceed the conforming loan limit ($647,200). They are designed to finance homes in higher priced real estate market. We offer fixed-rate, adjustable-rate, and interest-only options.

Who is it for?

Jumbo loans are for people who need a higher loan amount and who also might have a more complex financial situation.

What are the benefits?

Jumbo loans offer adjustable and interest-only rate options and larger loan amounts which allow for increased purchasing flexibility.

Loan details

Jumbo Loans are higher balanced loan amounts that exceed the conforming loan limit ($647,200). They are designed to finance more expensive homes, or those in a highly competitive real estate market. Some borrowers prefer to finance more of the home’s cost rather than tying up cash, making the jumbo mortgages a helpful financial tool.

Program features:

  • Loans to $5 million
  • A wide range of specialized financing solutions including adjustable-rate and interest-only options
  • Interest-only optionswith 30 and 40-year terms on owner occupied, second homes and investment properties.
  • Owner-occupied properties: purchase and rate and term refinances
    • LTVs to 80% on loans up to $3 million
    • LTVs to 75% on loans up to $5 million
  • 80.0% financing (20% down payment) on primary residences
  • 100% gifts for down payment and closing cost– allowed on owner occupied and second home purchases up to 80% LTV/TLTV to $2,000,000
  • Greater underwriting flexibility for customers with a more complex financial picture

Loans subject to credit and collateral approval. Not all loan programs are available in all states for all loan amounts. Restrictions may apply. Terms and conditions subject to change. Mortgage insurance is required for loans exceeding 80% LTV. Minimum credit score and reserve requirements apply and may impact the amount that can be borrowed and the interest rate/APR for which you are eligible. A nonrefundable $550 application fee is required. Displayed rates were effective as of11/25/2022 8:39 AM PT, are for informational purposes only, and are subject to change without notice. For mortgage loans, the APR may include the interest rate plus other charges or fees (such as discount points, mortgage insurance, and origination fees). The interest rates in this payment example is based on a variety of assumptions and conditions, including a consumer credit score which may be higher or lower than your individual credit score. Additional loan-level pricing adjustments may apply to your transaction. The payment examples below are for illustrative purposes only and assume a purchase, no cash-out or cash-out refinance of an owner-occupied single-family residence based on the loan details presented. The rate/APR is based on a variety of assumptions and conditions and is subject to change. Your rate/APR will be determined by your transaction's specific characteristics. Union Bank NMLS ID #539249.