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Jumbo Mortgage

Dream Bigger. Borrow Bigger.

Need a loan that goes beyond conventional limits? A Jumbo Mortgage lets you finance high-value properties with confidence and flexibility.

What Is a Jumbo Mortgage?

A jumbo mortgage is a home loan that exceeds the limits set by the Federal Housing Finance Agency (FHFA), where the purchase price of the home is above $806,500. Since they’re not backed by Fannie Mae or Freddie Mac, jumbo mortgages have different qualification standards.

Benefits of a Jumbo Mortgage from MSUFCU:

  • Down payment or equity of 5% or more
  • Finance up to 95% of your home’s value (Loan-to-Value or LTV)
  • Term options that fit your needs
  • Fixed- and variable-rate options
  • Primary, second, or vacation homes eligible

Jumbo mortgages require Private Mortgage Insurance (PMI) for loans over 80% LTV.

Ready to dream big?

Apply Now

Frequently Asked Questions

Finance Larger Homes: Buy in competitive or luxury markets without splitting loans.

One Loan, No Limits: Avoid multiple loans and complex paperwork.

Competitive Rates: Rates can still be attractive, depending on your credit profile.

Stricter Requirements: A higher credit score, larger down payment, and lower debt-to-income ratio are expected.

Larger Down Payments: Typically 10–20% or more.

No Government Backing: Not eligible for purchase by Fannie Mae/Freddie Mac, which can limit flexibility.

A jumbo mortgage potentially could benefit you if:

  • You're buying a home above $806,500.

  • You have a strong credit profile and financial history.

  • You want to finance a high-value property with one streamlined loan, rather than stacking multiple loans.

Privacy Notice, Consumer Caution and Home Ownership Counseling Notice, Electronic Correspondence Disclosure and Agreement, Mortgage Information, Nationwide Mortgage Licensing Systems IDs, Home Mortgage Disclosure Act Notice, Consumer Handbook on Adjustable-Rate Mortgage, CFPB Your Home Loan Toolkit

Home loans available for homes in the following states: Michigan, Alabama, Arizona, Colorado, Florida, Georgia, Illinois, Indiana, Kentucky, Minnesota, Missouri, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Virginia, Washington, and Wisconsin. Construction home loans are available in Michigan and Illinois. Rates are based on creditworthiness, loan-to-value (LTV), property type, and other factors associated with your loan application, your rate may be higher.

APR is annual percentage rate, and is subject to change. Your rate will depend on your credit score and the term. The loans subject to credit approval.

 

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MSU Federal Credit Union savings are Federally insured to at least $250,000 by the NCUA and backed by the full faith and credit of the United States Government. APR = Annual Percentage Rate. APY = Annual Percentage Yield. View our Privacy Notice and read our disclaimer regarding links to other sites.