How much down payment do I need for a jumbo loan?
Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
Many jumbo programs now allow 10% down for well-qualified borrowers, though 15% to 20% is common and unlocks better pricing. Larger loans and lower credit push the requirement up.
Some 10%-down jumbos avoid PMI through structure. We'll match your down payment and credit to the jumbo program with the best terms.
Typically 10% to 20%
Jumbo loans usually require 10% to 20% down, and some large loans ask for more. A stronger credit score and reserves can help you qualify at the lower end of that range.
On a $1,000,000 home, 10% down is $100,000, so planning your cash is key.
Lower-down jumbo options
Some lenders offer jumbo loans with as little as 10% down for well-qualified buyers, avoiding mortgage insurance through the loan structure. Terms vary widely by lender.
We shop jumbo lenders to find your lowest down payment. Apply now and we will run your options.