What is a jumbo loan?

A jumbo loan finances an amount above the conforming loan limits set by Fannie Mae and Freddie Mac. It is used for higher-priced homes and typically requires a larger down payment, strong credit, and cash reserves.

When do I have to pay PMI on a jumbo loan?

Private mortgage insurance may apply when your loan-to-value is above 80%. Jumbo guidelines vary by lender, and the estimated monthly cost rises as your down payment shrinks. PMI can typically be removed once you reach 20% equity.

How much cash do I need to close?

Cash to close is roughly your down payment plus closing costs. This calculator shows two scenarios: without a seller credit, and with a 3% seller credit.

Jumbo · Home Purchase

Jumbo Purchase Loan Payment Calculator

Estimate your monthly payment, PMI, cash needed to close, and the income you'd need to qualify on a jumbo loan above conforming limits — based on your property type, down payment, and rate.

Built by Jim Blackburn · NMLS #1072866 · $500M+ closed · 7× Scotsman Guide Top Producer

What type of home will this be?

Purchase Price

Down Payment Percentage 10%

Term of Loan

Annual Insurance

Annual Taxes

Monthly HOA

Estimated Interest Rate 6.99%

Are you thinking about buying another home after this one to continue your wealth journey?

Yes No

Summary

Total Monthly Housing Expense $0 Principal & interest, insurance, taxes, and PMI (PITI). HOA, if any, is paid separately.

Maximum Loan Amount (property type) $0 Jumbo loan-to-value caps by property type. Jumbo guidelines vary by lender.

Payment Breakdown

Desired Loan Amount$0

Principal & Interest Payment$0

Monthly Insurance$0

Monthly Taxes$0

Monthly PMI$0Estimated private mortgage insurance based on the down payment. Jumbo mortgage insurance varies by lender.

HOA Paid Separately$0

Cash to Close

Cash Out of Pocket — without seller credit$0Includes 6% estimated closing costs and varies state to state. This is NOT a Loan Estimate.

Cash Out of Pocket — with 3% seller credit$0Assumes a 3% seller credit toward closing costs and prepaids.

Monthly Income Target to Qualify$0Fannie Mae allows up to 50% DTI; Freddie Mac up to 45% with strong credit and reserves.

See My Options

Estimates only — not a commitment to lend.

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Important Disclaimer

This calculator is for illustrative purposes only and does not constitute financial, legal, or investment advice. Results are based on general assumptions and may not reflect actual performance or eligibility. This is not a loan estimate or approval. Please consult with a licensed mortgage advisor before making financial decisions.

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Jumbo Purchase Loan Payment Calculator

By Jim Blackburn

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