Refinance your jumbo mortgage to access equity, consolidate debt, or slash your term. Buying above $832,750? We do that too — as little as 10% down, fixed or ARM, up to $3M+.
When your home exceeds conforming limits, a jumbo loan provides the financing power you need with competitive terms.
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Higher Loan Amounts
Finance above the $832,750 conforming limit — up to $3,000,000+ for luxury homes, estates, and high-value properties nationwide.
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Competitive Rates
Jumbo rates are often competitive with or even lower than conforming rates. The gap has narrowed significantly in today's market.
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Flexible Terms
Choose from fixed-rate or adjustable-rate options (5/1, 7/1, 10/1 ARM). Interest-only options also available for qualified borrowers.
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No PMI at 20% Down
Put 20% down and avoid private mortgage insurance entirely. Lower down payments available with PMI that can be removed later.
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Multiple Property Types
Available for primary residences, second homes, vacation properties, and investment properties — including condos and multi-unit.
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Equity Access
Cash-out refinance up to 80% LTV on high-value properties. Consolidate debt, fund renovations, or access cash for any purpose.
Eligibility
Who Qualifies for a Jumbo Loan?
Jumbo loans have higher qualification standards than conforming loans. Here's what lenders look for.
Borrower Requirements
Credit Score
700+ recommended for best rates
680+ considered with strong compensating factors
Higher scores unlock better terms and lower rates
Income & Employment
2 years of stable, documented income
W-2s, tax returns, and pay stubs required
Self-employed: 2 years of business tax returns + P&L
Reserves
6–12 months of mortgage payments (PITI) in liquid assets
Checking, savings, money market, stocks, bonds
Retirement accounts counted at 60–70% value
Debt-to-Income Ratio
Jumbo loans typically require a maximum DTI of 43%. Borrowers with excellent credit, significant reserves, or a large down payment may qualify with DTI up to 45%.
Property & Loan Details
Property Types
Single-family homes
Condos (warrantable and non-warrantable)
2–4 unit properties
Second homes and vacation properties
Investment properties
Loan Amounts
$832,751 to $3,000,000+
Higher amounts with additional qualifications
Down Payment
10–20% for primary residence
10–25% for second home
20–25% for investment property
20%+ eliminates PMI requirement
Loan Terms
Fixed rate: 15, 20, or 30 years
ARM: 5/1, 7/1, or 10/1 adjustable
Interest-only options available
Jumbo Refinance
Refinance Your Jumbo Mortgage
Optimize your existing jumbo mortgage with a rate and term refinance, or access your home equity with a jumbo cash-out refinance. Consolidate debt, fund renovations, or restructure your loan for better terms.
Your new jumbo loan pays off your existing mortgage. If you borrow more than what you owe, you receive the difference as cash at closing:
Home Value: $1,200,000 Current Loan: $700,000 Max LTV (80%): $960,000 Available Cash: up to $260,000
Considering an ARM? A 7/1 or 10/1 jumbo ARM may offer a lower initial rate if you plan to sell or refinance before the adjustment period begins.
Jumbo Purchase
Buy Your Luxury Home
When your dream home exceeds conforming loan limits, a jumbo purchase loan provides the financing power you need. Available for primary residences, second homes, and investment properties with competitive rates and flexible terms.
With a jumbo loan, you can purchase high-value properties that conforming loans can't reach. On a $1,000,000 home with 20% down:
Home Price: $1,000,000 Down Payment (20%): $200,000 Loan Amount: $800,000 PMI: $0 (20% down = no PMI)
Explore all purchase options including VA, FHA, Conventional, and DPA programs in our Purchase Hub →
Jumbo Loan Costs
Understanding Jumbo Loan Costs
Jumbo loans have no government insurance fees. Here's what to expect for down payment and PMI based on your scenario.
Scenario
Down Payment
PMI
Rate Premium vs. Conforming
Purchase (Primary)
10–20%
Yes if <20% down
+0.00–0.25%
Purchase (2nd Home)
10–25%
Yes if <20% down
+0.125–0.375%
Purchase (Investment)
20–25%
None (20%+ required)
+0.25–0.50%
Rate & Term Refinance
—
Based on LTV
+0.00–0.25%
Cash-Out Refinance
—
Based on LTV
+0.125–0.50%
No Government Fees
Unlike FHA and VA loans, jumbo loans have no upfront mortgage insurance premiums or funding fees. Your only insurance-related cost is PMI if your down payment is less than 20% — and PMI can be removed once you reach 20% equity.
✓ No VA funding fee
✓ No FHA upfront MIP (1.75%)
✓ PMI removable at 20% equity (unlike FHA MIP which is for life of loan)
Note: Closing costs typically range from 2–5% of the loan amount and include origination fee, appraisal, title insurance, and recording fees.
Loan Comparison
Jumbo vs. Conventional
See how jumbo loans compare to conforming conventional loans for high-value properties.
Jumbo Loan
Conventional
Loan Amount
Above $832,750
Up to $832,750
Min. Down Payment
10–20%
3–5%
Min. Credit Score
700+ (680 w/ factors)
620+
PMI
None at 20%+ down
Required <20% down
Max DTI
43–45%
43–50%
ARM Options
✓ 5/1, 7/1, 10/1
Limited
Interest-Only
✓ Available
✗ Rare
Cash-Out Refi
Up to 80% LTV
Up to 80% LTV
Reserve Req.
6–12 months
0–6 months
Property Types
Primary, 2nd, Investment
Primary, 2nd, Investment
Rates, terms, and requirements vary by lender, property type, and borrower qualifications. Subject to credit approval.
Payment Calculator
Estimate Your Jumbo Loan Payment
Toggle between Refinance and Purchase to see your estimated monthly payment. No PMI with 20%+ equity or down payment.
Estimates only. Actual rates and payments will vary based on credit, income, and property. Subject to credit approval.
The Process
Your Jumbo Loan Journey
From application to closing, here's what to expect at every step.
1
Get Pre-Qualified
1–2 Days
Complete a quick application with Texana Bank. We'll run a soft credit check (won't affect your score), review your financial profile including income, assets, and reserves, and provide a clear pre-qualification amount.
2
Rate Lock & Property Review
Varies
For purchases: shop with confidence knowing your budget. For refinances: we lock your rate. We order the appraisal — high-value properties may require two appraisals for additional assurance.
3
Processing & Underwriting
14–30 Days
Our team verifies your income, assets, and reserves, reviews the appraisal, and completes thorough underwriting. Jumbo underwriting is more detailed than conforming — we keep you updated every step.
4
Closing
1 Day
Sign your final documents, get the keys to your new home, or start saving with your refinanced mortgage. Our team ensures a smooth closing experience for your high-value transaction.
Frequently Asked Questions
Jumbo Loan FAQs
Answers to the most common questions about jumbo purchase loans, jumbo refinances, eligibility, rates, and costs.
No. Texana Bank Mortgage uses a soft credit inquiry for pre-qualification, which has absolutely no impact on your credit score. You can check your rate, explore loan options, and get pre-approved without any effect on your credit. A hard inquiry only occurs later if you formally move forward with a full application.
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). For 2026, the standard conforming limit is $832,750 (higher in designated high-cost areas up to $1,249,125). Jumbo loans are used to finance luxury homes and high-value properties that exceed these limits. They are not backed by Fannie Mae or Freddie Mac.
The 2026 conforming loan limit is $832,750 for most areas in the United States. High-cost areas like parts of California, New York, Hawaii, and the D.C. metro area have limits up to $1,249,125. Any mortgage above these limits requires a jumbo loan.
Most jumbo loan programs require a minimum credit score of 700. However, Texana Bank Mortgage may approve borrowers with scores as low as 680 when strong compensating factors are present, such as significant reserves, low DTI ratio, or a substantial down payment. Higher scores unlock better rates and terms.
Jumbo loans typically require 10–20% down payment for primary residences. With 20% down, you avoid PMI entirely. Second homes may require 10–25% down, and investment properties typically require 20–25%. Larger down payments may qualify you for better rates and terms.
Jumbo rates have historically been slightly higher than conforming rates, but the gap has narrowed significantly. In many market conditions, jumbo rates are competitive with or even lower than conforming rates. The exact rate depends on your credit score, down payment, property type, and loan amount.
Yes. Jumbo refinance options include rate and term refinance to improve your rate or change your loan term, and cash-out refinance to access your home equity. You can refinance from one jumbo to another, or from a conforming loan to a jumbo if your home has appreciated above conforming limits.
Yes. Jumbo cash-out refinances typically allow you to borrow up to 80% of your home's appraised value. For example, on a $1.5 million home, you could potentially access up to $1.2 million total, receiving the difference between your new loan and existing balance as cash for any purpose.
PMI is not required if you put 20% or more down on a jumbo loan. If you put less than 20% down, PMI will typically be required but can be removed once you reach 20% equity. Some jumbo programs offer lender-paid PMI options with a slightly higher interest rate.
Jumbo loans typically require 6–12 months of mortgage payments (PITI) in liquid reserves after closing. Acceptable reserves include checking and savings accounts, money market funds, stocks, bonds, and retirement accounts (counted at 60–70% of value).
Yes. Jumbo loans are available for second homes and vacation properties. Down payment requirements are typically 10–25%, and you may need additional reserves. The property must be suitable for year-round use, and you must occupy it for some portion of the year.
Yes. Jumbo loans are available for investment properties including single-family rentals, condos, and multi-unit properties up to 4 units. Investment property jumbo loans typically require 20–25% down and 12 months of reserves. Rental income can be used to help qualify.
A jumbo ARM (adjustable-rate mortgage) offers a fixed interest rate for an initial period — typically 5, 7, or 10 years — before adjusting annually based on market conditions. Jumbo ARMs often offer lower initial rates than fixed-rate jumbos, making them attractive for borrowers who plan to sell or refinance before the adjustment period.
Jumbo loans typically require a maximum DTI ratio of 43%, though some programs allow up to 45% with strong compensating factors such as excellent credit, significant reserves, or a large down payment. This is generally stricter than conventional conforming loan DTI limits.
Yes. A jumbo cash-out refinance allows you to access your home equity to consolidate high-interest debts. You can pay off credit cards, auto loans, personal loans, and other debts — replacing multiple payments with a single, potentially lower mortgage payment.
Yes. Some jumbo loan programs offer interest-only payment options for the first 5–10 years. During the interest-only period, you pay only the interest, resulting in a lower monthly payment. After the interest-only period ends, payments increase to include both principal and interest over the remaining term.
Jumbo loans require thorough documentation including 2 years of tax returns, 2 years of W-2s or 1099s, 60 days of bank statements, 2 recent pay stubs, investment and retirement account statements, and a list of all debts and assets. Self-employed borrowers may need additional documentation such as profit and loss statements.
Jumbo loans typically take 30–45 days to close, slightly longer than conforming loans due to more thorough underwriting requirements. Some high-value properties may require two appraisals, which can add time. Working with an experienced jumbo lender like Texana Bank can help streamline the process.
Yes, but longer waiting periods apply than with government-backed loans. Typically, you must wait 4–7 years after a Chapter 7 bankruptcy discharge and 2–4 years after a Chapter 13 completion. You'll also need to demonstrate re-established credit, strong income, and sufficient reserves.
Texana Bank Mortgage offers jumbo loans up to $3,000,000 or more depending on the borrower's qualifications, property type, and location. For loan amounts above $2 million, additional requirements may apply including higher credit scores, larger down payments, and more extensive reserve requirements.
Reviews
What Homeowners Say About Texana Bank
Real reviews from real borrowers. See why homeowners trust Texana Bank Mortgage.
I had an excellent experience working with my texana bank mortgage from start to finish. They were extremely professional, knowledgeable, responsive, and made the entire mortgage process feel much easier than I expected.
They took the time to explain everything clearly, answered all of my questions, and kept me informed throughout the entire process. I always felt like I had someone in my corner who genuinely cared about helping me reach my goals.
If you’re looking for a mortgage broker who is trustworthy, dependable, and willing to go the extra mile for their clients, I highly recommend them. I truly appreciate all of their hard work and would definitely work with them again!
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Kent Sisco
★★★★★
Adam McCormick is fantastic! Easy to work with and keep me informed every step of the way! Looking forward to working with him again in the future
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Andrea Ferrell
★★★★★
Adam was phenomenal from start to finish! He was friendly and professional. He assisted me every step of the way, walking me through the process with ease. He was always there for whatever questions I had. He was very, very patient and always reached out to me in a timely manner if I contacted him and he was unavailable at the time. Moreover, he made me feel as if he cared for more than just my loan, but me as a person!!! Texana is blessed to have him as an associate!!
Andrea
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Clay Ragsdale
★★★★★
Where to really start. Adam walked me through everything and put me at ease. I have had some bad experiences with other companies so I was digging and looking for any red flag. There was none with him and his direct talk is what did it for me. Someone that is real and just says what it is. No false hope or misdirection at anytime.
I would recommend him to anyone and definitely Someone looking for honesty and caring. The communication is top notch and a true professional.
Respectfully,
Clay
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Belvia Lynn
★★★★★
My overall experience while working with Adam McCormick was excellent. He was very pleasant and professional.
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Joseph Hardman
★★★★★
Adam McCormick is an absolute professional in every sense of the word. I will NEVER use any other loan officer for my financials other than Adam as long as he is in the business. His work as my loan officer was exceptional. Throughout the process, he always responded to an e-mail, responded to a text, called right back if not answering immediately. He always made you feel as though you were his only client. There was never the impression he had more important things to do other than speak with you. He worked with us through a death in the family, personal issues, and numerous other challenges. It's possible other loan officers would have given up on us during this process, but Adam stuck with us through it all. His work ethic is amazing. He is an expert in his craft. I could not possibly give a higher recommendation, he has redefined what right looks like in this business.
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Marsha Kessler-Bradshaw
★★★★★
I was about to go with another company for this refinance no cash out until I received a call from this Adam McCormick. He was so knowledgeable and made me feel very comfortable with this process. Adam is knowledgeable ,courteous, understanding and has a real passion and patience for people. 👍We are at the closing. Thank you Adam McCormick!!
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Peter Jenkins
★★★★★
My situation had its difficulties. Justin was confident and persistent through the process and we the got the result
D
Dale Samuel
★★★★★
Mark has been very professional and has been very respectful to my wife and myself.
Mark has shown that genuine human qualities and really worked with us and for us.
This actually been a pleasure to get to know Mark.
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James Fields
★★★★★
Outstanding Service and support from a truly Customer Oriented Agent! My pleasure to have worked with Mr. MCcormick.! Would follow him to next source if necessary. He is concerned in an outstanding balanced way. My pleasure to?know and do Business with him and The Bank!
JFields
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Rose Stone-Stewart
★★★★★
Texana Bank was there for us throughout the entire process. Their personableness, as well, their professionalism. As a financial institution it was nice to know that while obtaining a loan, we had a safe place to relay. They are absolutely “by the book” and at the same time makes the process easier to participate. The hospitality and genuine concern as clients was overwhelming of which we will always consider Texana Bank first, before mostly any other financial institution.
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Mitchell Morris
★★★★★
Greg was awesome and the process was simple. I have nothing but the highest praise for the process and for Greg himself. Thank you.
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Ronald Bylsma
★★★★★
Best refi experience of our lives, Andre was very knowledgeable and always kept us calm when things got stressful. Would recommend Mr. Andre Floyd to anyone looking for a great lending officer!
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Dejan Jajcevic
★★★★★
I’ve worked with mini bankers before and I used to do them over a decade ago myself and my experience that I had with Chad was nothing short of phenomenal. He is a wonderful Banker does a very diligent job and did not miss any moments of reassuring me where my loan was and closing I couldn’t say enough good things about him and I hope if I ever need to go through this stressful process again he is still in business to take care of me
J
James Reaves
★★★★★
Adam is awesome super friendly easy to work with always aware of what’s going on and keeps you informed which is great.
L
Lesli Hopkins
★★★★★
Lynette is absolutely awesome to work with! She takes the time to make you comfortable with the process and answers any questions completely and accurately
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Bobby Strickland
★★★★★
Andre Floyd was ABSOLUTELY AMAZING. I just love working with him.
A
Abraham Sanchez
★★★★★
Working with Greg Darlin has been an awesome experience. An honest and sincere individual. He is to the point and very very knowledgeable. I appreciate the fact that he didn’t try to give me the run around and through the entire process I learned a few things. Thank you.
Ready to Finance Your Dream Home?
Whether you're purchasing a luxury property or refinancing to optimize your jumbo mortgage, our specialists are here to help.
