Jumbo and high balance
Above the conforming limit you leave the agency rulebook behind. Each jumbo investor writes its own guidelines, so the difference between lenders stops being a rate sheet and becomes a question of who will actually approve the file.
- Typical minimum down
- 10% to 20% depending on loan size and investor
- Reserves
- 6 to 12 months post-closing, retirement assets discounted
- Typical minimum mid-FICO
- 700, better pricing at 740 and 760
What this program actually is
For High Desert, Sandia Heights, Tanoan and the Santa Fe market we run jumbo scenarios constantly. The pattern is consistent: reserves matter more than anything else. Most jumbo investors want six to twelve months of post-closing reserves, and they count retirement assets at a haircut rather than at face value.
Appraisal practice is different too. Many jumbo programs require a second appraisal or a desk review above a certain loan amount, and in a market with thin comparable sales that second opinion is where deals die. We tell you up front which investors on our panel order two appraisals and at what threshold.
The other lever is structure. A piggyback first and second, or a high-balance first under the county ceiling with a home equity line behind it, will sometimes beat a single jumbo note by a wide margin. That comparison is the whole job.
- Typical minimum down
- 10% to 20% depending on loan size and investor
- Reserves
- 6 to 12 months post-closing, retirement assets discounted
- Typical minimum mid-FICO
- 700, better pricing at 740 and 760
- Appraisals
- A second appraisal or desk review above investor thresholds
- Alternative
- High-balance first plus a second lien, compared side by side
What you get from us on this program
- A reserve calculation that shows how each investor counts your retirement and brokerage assets
- A written comparison of a single jumbo note against a high-balance first with a second lien
- Early warning on second appraisal thresholds and desk review requirements
- Interest-only and 10/6 ARM structures modeled where they genuinely help
- Direct access to the account executives at the two jumbo investors we use most
How the file runs
- 01
Asset and reserve mapping
We document liquidity first, because that is what actually gates a jumbo approval.
- 02
Structure comparison
Single jumbo versus split financing, priced on the same day.
- 03
Investor selection
Chosen on guidelines and appraisal practice, not only on the rate sheet.
- 04
Appraisal strategy
Comparable sales assembled in advance where the market is thin.
- 05
Close
Final review of prepaids, escrow and any second-lien coordination.
What moves your pricing on this program
These are the inputs an underwriter and a rate sheet actually react to. Nothing on this page is a quote.
| Factor | Why it matters |
|---|---|
| Post-closing reserves | The single strongest driver of a jumbo approval |
| Loan amount | Pricing and appraisal rules step at investor thresholds |
| Income type | Self-employment, K-1 and RSU income are treated very differently by investor |
| Property uniqueness | Custom homes with few comparables need appraisal planning |
| Credit depth | Tradeline age and count matter more than on agency loans |
All rates, APRs, payments, fees and timelines referenced on this site are sample figures for illustration only. They are not an offer of credit and not a commitment to lend. Equal Housing Opportunity.
Often compared with
Jumbo and high balance questions
Not covered here? Call (505) 555-0135 or send us a note. Se habla español.
Bernalillo, Sandoval and Valencia counties use the standard one-unit limit, which the Federal Housing Finance Agency resets each year. We confirm the current figure with you in writing.
Not always. Several investors on our panel will go to 10% down with strong reserves and credit, usually with a lower maximum loan amount.
It adds roughly a week. We build that into the contract dates rather than requesting an extension later.