A jumbo loan is used when a home’s purchase price exceeds the conforming loan limits set annually by HUD and adopted by Fannie Mae and Freddie Mac. These loans are designed for higher-value properties and require stronger financial qualifications than standard conventional loans.

​

What is a jumbo loan?

Jumbo loans allow borrowers to finance homes with loan amounts above conventional limits. Because these loans are not eligible for sale to Fannie Mae or Freddie Mac, lenders apply more conservative underwriting standards.

Borrowers typically need strong credit, stable income, and verified assets. Down payment requirements are often higher than standard conventional loans, though the exact amount depends on the loan size and overall borrower profile.

​

Jumbo loan limits

For Clark County, Nevada, the 2026 conforming loan limits are:

• 1-unit: $541,287

• 2-unit: $693,050

• 3-unit: $837,700

• 4-unit: $1,041,125

Any loan amount above these limits requires jumbo financing.

Current loan limits can be reviewed directly on HUD’s website:

https://entp.hud.gov/idapp/html/hicostlook.cfm

​

What is required for a jumbo loan?

Jumbo loans require full documentation, including income verification, asset statements, and review of debt-to-income ratios. An appraisal is required, and for higher loan amounts, a second appraisal may be requested.

Although underwriting is more selective, jumbo loans can still offer competitive interest rates and both fixed-rate and adjustable-rate options.

​

How Jumbo Loans Work

• Loan amounts exceed conforming limits

• Fixed-rate and adjustable-rate options available

• Higher credit and asset requirements

• Larger down payments may be required

• No monthly PMI in most cases

Have questions? Give us a call. One of our mortgage specialists would be happy to help.