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Compare current jumbo mortgage rates

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Updated on Jun 01, 2025
On Sunday, June 01, 2025, the national average 30-year fixed jumbo mortgage APR is 6.95%. The average 15-year fixed jumbo mortgage APR is 6.41%, according to Bankrate's latest survey of the nation's largest mortgage lenders.

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APR
Mo. payment
as of June 1, 2025

Current jumbo mortgage rates

Jumbo loans are mortgages in larger loan amounts, specifically an amount exceeding the conforming loan limit in the area you’re purchasing a home or refinancing your loan. Jumbo loans generally carry higher qualifying requirements in terms of minimum credit score and cash reserves.

How do jumbo loans compare to other mortgage types?

While jumbo loan rates historically were lower than conforming mortgage rates, that changed in the post-pandemic years. Now, jumbo rates are sometimes lower than rates on conforming mortgages.

Product Interest Rate APR
30-Year Fixed Rate Jumbo 6.90% 6.95%
15-Year Fixed Rate Jumbo 6.34% 6.41%
30-Year Fixed Rate 6.93% 7.00%
15-Year Fixed Rate 6.11% 6.21%
30-Year Fixed Rate FHA 6.68% 6.74%
30-Year Fixed Rate VA 6.66% 6.70%

Rates as of Sunday, June 01, 2025 at 6:30 AM

Jumbo loan qualifications and requirements

The amount of a jumbo mortgage exceeds the Federal Housing Finance Agency’s conforming loan limits. For borrowers in much of the U.S. in 2025, this limit is $806,500, or up to $1,209,750 in high-cost areas, such as Alaska, Hawaii, San Francisco and New York City.

Those limits apply to one-unit, or single-family, properties. For properties with more than one unit, the limits break down to:

  • Two units (duplex): $1,032,650
  • Three units (triplex): $1,248,150
  • Four units: $1,551,250

As with a one-unit property, there are higher limits in high-cost areas for multifamily properties, as well. These range from $1,548,975 for a two-unit property to $2,326,875 for a four-unit property.

Generally, to qualify for a jumbo loan, borrowers need:

  • Credit score: 680 or higher
  • Debt-to-income (DTI) ratio: 45% or lower
  • Down payment: 10% to 15% or more
  • Cash reserves: Six to 12 months’ worth of mortgage payments in savings

Some lenders might have stricter requirements. No matter the type of lender or loan, you’re more likely to get a lower rate the better your credit and finances are.

Should you get a jumbo mortgage?

A jumbo loan might be a good fit for you if:

  • You’re buying a home that exceeds conforming loan limits.
  • You have a high credit score. Lenders typically have strict requirements for jumbo loans.
  • You have plenty of cash. Lenders generally require 20 percent down.
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BANKRATE EXPERT FAQ

What do the experts say?


Chief financial analyst, Personal Finance

A jumbo loan designation is based on the amount borrowed. If you're taking out a 30-year fixed-rate mortgage for more than $806,500, you're taking out a jumbo loan. The rates on jumbo loans are neck-and-neck with those of smaller conforming loans, so there is no particular advantage, or disadvantage, to getting under that $806,500 limit.

Writer and Housing Market Analyst

Before the pandemic, jumbo mortgages had higher rates than conventional loans. Now, jumbo loans carry rates that are equal to or even lower than conventional mortgages. The catch is that the requirements for down payment and credit score can be stricter.

Before you decide, weigh these upsides and downsides.

Pros of jumbo loans

  • Attractive interest rates: The jumbo rates on the market today are close to those of conforming loan rates. The cost of borrowing is not that much more expensive for a more expensive house.
  • Potentially more flexible terms: Many lenders keep jumbo loans rather than selling them. That allows for more leeway in the details of the loan — you might need to put down only 10 percent, for instance.
  • Benefits for returning customers: Banks are big players in the jumbo market, and they often offer private-banking perks to jumbo borrowers.

Cons of jumbo loans

  • Strict underwriting standards: Lenders impose higher guidelines for jumbo loans around down payment, credit score, cash reserves and DTI ratio.
  • Somewhat limited availability: Not all lenders offer jumbo loans.
  • Higher limits could take jumbos out of the equation: In high-cost markets, the threshold for a conforming loan is over $1.2 million. Because of this, you might not even need a jumbo loan.

How to get a jumbo mortgage

To get a jumbo mortgage, you might have to jump through a few extra hoops. Here are the key steps to getting this type of loan:

  • Make sure you qualify. You’ll need to clear three hurdles to qualify for a jumbo loan with the most favorable terms: a low DTI ratio, a stellar credit score and hefty reserves. You might need as much as 12 months’ worth of mortgage payments in the bank, in addition to sufficient funds to cover closing costs.
  • Gather documentation. Lenders will need proof of your income, credit history and assets.
  • Shop around. Finding the best deal on a jumbo loan might take a bit more effort. Broaden your search to include all sorts of lenders, as well as mortgage brokers. Bankrate lists the leading lenders in every state; be sure to read not just our take, but also the customer comments featured in most lender reviews.
  • Expect extra scrutiny. Jumbo lenders are taking a big risk, so they might spend more time examining your income, verifying your cash reserves and generally vetting your finances. The underwriting process may well take longer.

Jumbo mortgage FAQ

Meet our Bankrate experts

Written by: Andrew Dehan, Writer, Home Lending

I’ve covered mortgages, real estate and personal finance since 2020. At Bankrate, I’m focused on all of the factors that affect mortgage rates and home equity. I enjoy distilling data and expert advice into takeaways borrowers can use. Prior to Bankrate, I wrote and edited for Rocket Mortgage/Quicken Loans. My work has been published by Business Insider, Forbes Advisor, SmartAsset, Crain’s Business and more.

Read more from Andrew Dehan

Edited by: Laurie Richards, Editor, Home Lending

I’ve spent five years in writing and editing roles, and I now focus on mortgage, mortgage relief, homebuying and mortgage refinancing topics. I’m most interested in providing resources for aspiring first-time homeowners to help demystify the homebuying process. In 2021, I earned a Poynter ACES Certificate in Editing. I have an MA in English. 

Read more from Laurie Richards