Contributor, Benzinga
January 30, 2024

Check out CrossCountry Mortgage for your jumbo mortgage needs.

Ready to find the best jumbo loan for your needs? Our guide to the best mortgage companies that offer jumbo loans will make it a little easier to move into the home of your dreams. 

Quick Look: Best Jumbo Mortgage Lenders

6 Best Jumbo Mortgage Lenders

If you're looking for a jumbo loan - one that doesn't conform to Freddie Mac or Fannie Mae standards - it’s time to take a closer look at individual lenders. Let’s take a look at some of the best mortgage lenders that offer jumbo loan options. 

1. Best for Self-Employed Professionals: CrossCountry Mortgage

  • securely through CrossCountry Mortgage's website
    securely through CrossCountry Mortgage's website
    Best For:
    Self-employed Borrowers
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    Available in: CA, CO, CT, DC, FL, GA, IL, MD, MA, MI, NH, NJ, NY, NC, OH, PA, RI, SC, TN, TX, VA, WA 

Your lender needs to know that you have a consistent, steady income when you borrow money. This is especially important for a larger jumbo loan, which may reach millions of dollars. You might find it difficult to get the jumbo loan you need because lenders see your fluctuating income as unreliable or they may not consider nontraditional business assets.

CrossCountry Mortgage provides individualized mortgage solutions if you’re self-employed. CrossCountry Mortgage’s flexible Asset Qualifier home loan considers nontraditional sources of income and assets — perfect for business owners who have a large percentage of cash tied up in work-related assets. You can borrow up to $6 million with an Asset Qualifier loan and your credit score can be as low as 580 points. 

CrossCountry Mortgage is licensed to lend in California, Colorado, Connecticut, DC, Florida, Georgia, Illinois, Maryland, Massachusetts, Michigan, New Hampshire, New Jersey, New York, North Carolina, Ohio, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia, and Washington.


  • Wide variety of mortgage products
  • Niche products like bank statement loans
  • Works with many state home buyer assistance programs


No online approval

2. Best for Bank Statement Loans: Angel Oak Mortgage Solutions

Angel Oak Mortgage Solutions is a full-service jumbo mortgage lender offering traditional and portfolio Non-QM mortgage loans. Their Jumbo programs are for higher-priced home purchases that exceed the conforming loan limit set by the FHFA. Angel Oak’s Jumbo program consists of Prime Jumbo, Gold Prime Jumbo, and Non-QM Platinum Jumbo mortgage options.

With loan amounts available up to $3.5 million, they can support you in financing properties of different values. They cater to primary residences, second homes, and investment properties, and accommodate various types of properties such as single-family homes, townhomes, and condos.

With competitive rates on conventional purchase and refinance, Angel Oak Mortgage Solutions ensures that you have options to suit your financial goals.


  • Considers unique borrower situations
  • Quick loan approval process
  • Offers competitive interest rates


  • Stricter qualification requirements
  • Higher interest rates and fees 

3. Best for Online Mortgages: Rocket Mortgage®

Rocket Mortgage is one of the largest mortgage providers in the country. Rocket Mortgage® can help you quickly and easily apply for a jumbo loan through its Rocket Mortgage® platform. Rocket Mortgage® has streamlined the mortgage process to a few simple steps. Most applicants will receive a decision in just a few minutes, and you may qualify for up to $3 million through the Rocket Mortgage Loans jumbo loan program. You may even qualify with just 10% down. Rocket Mortgage also offers FHA, VA, USDA and conventional loans. 


  • Apply online through their website
  • Faster loan processing times
  • Variety of mortgage options


  • Lack of personal interaction
  • Inability to negotiate terms

4. Best for Refinancing: New American Funding

Jumbo loans are available for primary residences, vacation homes, or investment properties.

New American Funding follows a standard closing process, meaning the time to close will depend on the client and loan type. You can choose to start with a prequalification or preapproval. Prequalification doesn’t involve verifying your income. Preapproval means underwriters have reviewed your income and assets and are reasonably confident you will qualify for a home loan.  


  • Offers several mortgage options
  • Website and app to manage your mortgage
  • Educational resources like calculators, blogs and home buyer guides


Not available in New York or Hawaii

5. Best for VA Jumbo Loans: Veterans United

You already know that a VA loan is a type of government-backed mortgage loan that allows veterans and active members of the armed forces to buy a home with no money down and no private mortgage insurance. Private mortgage insurance is money you pay to a lender in the event that you default on your mortgage. Did you know that you can also get a VA jumbo loan to buy a more valuable property as well?

Check out Veterans United. Veterans United offers 30-year VA jumbo loans at interest rates comparable to regular VA loans. Veterans United allows you to finance up to $3 million in a home loan with a low down payment and looser credit requirements. The team at Veterans United can also help you learn more about the VA loan process and assist you in getting the paperwork you need to secure your loan.


  • 24/7 customer service
  • Offers VA purchase and refinance loans
  • Offers credit consulting through its Lighthouse Program


Branches in only 18 states

6. Best for Flexible Options: Guaranteed Rate

Interest-only mortgages from Guaranteed Rate are aimed at borrowers who expect significant income growth over time. In addition to interest-only loans, Guaranteed Rate offers jumbo loans and loans for renovations as well as government-backed mortgages and home equity lines of credit (HELOCs). 


  • Fast approval process, often the same day
  • Diverse loan options
  • Excellent customer reviews 


  • Higher-than-average origination fees

What is a Jumbo Mortgage?

A jumbo mortgage is a type of mortgage loan that exceeds the loan limits set by government-sponsored enterprises (GSEs) such as Fannie Mae and Freddie Mac. These loan limits are set annually and vary by location. In general, a jumbo mortgage is used to finance higher-priced properties that exceed the loan limits set by the GSEs. Since jumbo mortgages are larger than conventional mortgages, they typically have stricter qualification requirements and higher interest rates. They are commonly used by borrowers who are purchasing luxury homes or properties in high-cost areas.

Who Qualifies for Jumbo Mortgages?

The qualifications for a jumbo loan may vary depending on the lender and specific loan program, but generally, the following criteria are considered:

Higher Credit Score

Most lenders require a higher credit score for jumbo loans compared to conventional loans. Typically, a credit score of 700 or above is required, although some lenders may accept lower scores.

Lower Debt-to-Income Ratio

Lenders typically require a lower debt-to-income ratio for jumbo loans. This means that your monthly debt payments, including the mortgage, should not exceed a certain percentage of your monthly income. Usually, a debt-to-income ratio of 43% or lower is required.

Larger Down Payment

Jumbo loans usually require a larger down payment compared to conventional loans. While the exact percentage may vary, a down payment of at least 20% is commonly required. Some lenders may offer jumbo loans with a lower down payment, but this may come with stricter qualification requirements.


Jumbo loan lenders may require borrowers to have a certain amount of reserves, which are liquid assets that can cover several months of mortgage payments. The specific reserve requirement can vary but is typically higher for jumbo loans.


Like any mortgage loan, jumbo loan applicants will need to provide documentation to verify their income, assets, and other financial information. This may include tax returns, bank statements, pay stubs, and other supporting documents. It is important to note that these qualifications may vary among lenders, and it is always recommended to consult with multiple lenders to understand their specific requirements and options for jumbo loans.

Financing Your Future Home

Finding the right mortgage loan doesn’t need to be confusing. Start by comparing at least a few different lenders working in your area for current interest rates, loan types offered, customer service quality and loan application process. Remember, a mortgage loan can be a 30-year commitment. Take some time to ensure that you’ve got the best loan for you and your family. 

Frequently Asked Questions


How much is a down payment for a mortgage?


A down payment for a mortgage can range from $0 for a USDA or VA loan up to 3.5% for FHA loans and 10% or 20% for a conventional loan.


How does a mortgage pre-approval work?


Mortgage pre-approvals provide the buyer with a letter that states how much they can afford, ensuring the agent or seller that that buyer can obtain financing.


What is a jumbo mortgage loan?


A jumbo loan, also called a non-conforming loan, does not conform to Freddie Mac or Fannie Mae standards. It is used for people who are buying expensive properties.

Get Ready for Take Off

Rocket Mortgage® is an online mortgage experience developed by the firm formerly known as Quicken Loans®, America’s largest mortgage lender. Rocket Mortgage® makes it easy to get a mortgage — you just tell the company about yourself, your home, your finances and Rocket Mortgage® gives you real interest rates and numbers. You can use Rocket Mortgage® to get approved, ask questions about your mortgage, manage your payments and more.

You can work at your own pace and someone is always there to answer your questions — 24 hours a day, 7 days a week. Want a fast, convenient way to get a mortgage? Give Rocket Mortgage® a try.

About Sarah Horvath

Sarah is an expert in the insurance, investing for retirement and cryptocurrency space.