Compare Current Jumbo Mortgage Rates

You can get the best jumbo loan rates by following these seven steps:

1. Shop around. Jumbo mortgage lenders offer a wide variety of rates and programs, which makes shopping around especially important. Gather loan estimates from three to five lenders and compare the loan offers you receive — it may sound simple, but studies have shown that doing so can save you thousands. You can begin with our picks for the best jumbo loan lenders, which we list below.
2. Boost your credit score. Although a 700 credit score will typically get you a jumbo loan approval, lenders often offer the best jumbo mortgage rates to borrowers with higher credit scores.
3. Make a bigger down payment. Unlike conventional loans, you’ll need at least a 20% down payment to qualify for a jumbo loan. If you have some wiggle room with your down payment, consider paying more upfront to qualify for a lower rate.
4. Check with your bank. Banks may offer special rates on jumbo loans to customers they currently work with, especially if they have large deposit balances and investment portfolios.
5. Check with mortgage banks and mortgage brokers. You may find a mortgage broker or mortgage bank with a special jumbo loan program.
6. Avoid low-documentation loan options if possible. Jumbo lenders may offer loans with less stringent documentation requirements. The lender may allow you to prove your income with recent bank statements instead of tax returns, for example. This caters to people in uncommon employment scenarios — however, you’re likely to pay a higher rate for the extra flexibility.
7. Find a loan officer who is experienced with jumbo loans. The guidelines and requirements for jumbo loan programs can be complicated, and pricing them accurately requires attention to detail and training. Shop around for a loan officer who has at least a few years of experience originating jumbo loans.

Jumbo loans can be very similar to traditional 30-year fixed-rate mortgages — just bigger. However, because jumbo loan lenders can set their own terms, they can offer more unique loan options.

Jumbo adjustable rate mortgages

Many jumbo lenders offer adjustable-rate mortgage (ARM) options with a lower initial rate that usually lasts for three, five, seven or 10 years. After the initial fixed-rate period ends, ARM rates change (or “adjust”) based on your loan terms.

Interest-only jumbo mortgages

Some jumbo lenders offer an interest-only option for jumbo loans. You’ll start off with low payments, as you’re only paying interest charges without touching your principal balance. But once the interest-only period ends, you’ll pay the remaining balance in installments for the remaining loan term. This could be a shock to your budget if you don’t pay down your loan balance before the bigger payments begin.

VA jumbo loans

Military borrowers with full VA loan entitlement can qualify for a loan amount that exceeds conforming loan limits. VA jumbo loans are still subject to the VA’s underwriting guidelines, however.

To determine the best jumbo loan lenders, we reviewed data collected from 35 lender reviews completed by the LendingTree editorial staff in 2023.

Each lender review gives a rating between zero and five stars based on several features including digital application processes, available loan products and the accessibility of product and lending information. To evaluate jumbo-specific factors, we awarded extra points to lenders that publish jumbo mortgage rates online and offer both fixed- and adjustable-rate jumbo loans.

Our editorial team brought together all of the data about lenders in our reviews, as well as the scores awarded for jumbo-specific characteristics, to find the lenders with a product mix, information base and guidelines that best serve the needs of jumbo loan borrowers. To be considered for our “best overall” pick, lenders must be licensed to issue mortgages in at least 35 states.