Loan program

Jumbo Loans in NC, SC & GA

If you are buying or refinancing a home that needs a loan above the conforming limit, you are in jumbo territory. That is increasingly common in parts of Charleston, around Lake Norman and south Charlotte, in the Triangle, and in north Atlanta suburbs. Jumbo guidelines vary widely between lenders, which is exactly where shopping 300+ lenders pays off.

How it works

How it works.

Jumbo loans are held by the lender or sold to private investors instead of Fannie Mae or Freddie Mac, so each lender writes its own guidelines. In general terms, expect a higher credit score, several months to a year or more of reserves depending on the loan size, a debt-to-income ratio that often needs to be lower than conventional allows, and full documentation of income and assets. Larger loans may require two appraisals. Both fixed and adjustable rates are common.

Reserves: the biggest difference

Reserves are liquid assets left over after closing, measured in months of your full housing payment. Jumbo lenders commonly require more than conventional loans, often 6 to 12 months or more, rising with the loan size and the number of properties you own. Retirement accounts often count at a discounted value. Planning where your reserves will come from before you shop avoids surprises.

Jumbo vs. two loans (piggyback)

Some buyers keep their first mortgage at or under the conforming limit and add a second mortgage or home equity line for the rest. That can sometimes lower the cost or down payment compared with a single jumbo loan. Other times a single jumbo is simpler and cheaper. I compare both structures.

Self-employed and asset-rich jumbo borrowers

If your income is complex, some non-QM lenders offer jumbo bank statement or asset depletion loans. Pricing is typically higher than a full-documentation jumbo, but they can solve cases where tax returns do not show the full picture.

Step by step

How the process works, start to finish.

1. 1

   Compare conforming vs. jumbo

   We check whether a different down payment or a piggyback second would keep you in conforming territory.

2. 2

   Document income and reserves

   Jumbo underwriting is thorough. We gather full income and asset documentation up front.

3. 3

   Shop jumbo lenders

   I compare down payment tiers, reserve rules, fixed vs. adjustable options, and pricing across lenders.

4. 4

   Appraisal (sometimes two)

   Higher loan amounts may require a second appraisal. Unique luxury or waterfront homes need careful comparable sales.

5. 5

   Underwriting and closing

   The loan is underwritten manually by the lender and closes with a local attorney.

FAQ

Common questions: Jumbo.

• What is the jumbo loan limit in 2026?

  Any loan above the conforming limit is jumbo. For 2026, the baseline conforming limit for a one-unit home is $832,750 in our NC, SC, and GA counties, so loan amounts above that are jumbo.

• How much do I need to put down on a jumbo loan?

  Often 10% to 20%, depending on the lender, loan size, and credit. Some lenders offer lower down payment jumbo options, and larger loans usually require more down.

• What credit score do I need for a jumbo loan?

  Many jumbo lenders look for 700 or higher, and the best terms usually go to higher scores. Some lenders go lower with larger down payments.

• How much in reserves do jumbo lenders require?

  Commonly 6 to 12 months or more of your full housing payment, depending on the lender and loan size. More properties and larger loans usually mean higher reserve requirements.

• Are jumbo rates higher than conventional rates?

  Not necessarily. Jumbo pricing depends on the lender and market and can be close to or even below conforming pricing at times. I compare both and never quote rates here since they change daily.

• Do jumbo loans have PMI?

  Most jumbo loans do not have PMI. Lower down payment jumbo options usually build the extra risk into pricing instead.

• Can I avoid a jumbo loan with a second mortgage?

  Sometimes. A first mortgage at the conforming limit plus a second mortgage or home equity line can replace a jumbo. Whether it costs less depends on both loans' terms.

• Do jumbo loans need two appraisals?

  Some lenders require a second appraisal above certain loan amounts. It depends on the lender and the loan size.

Sources: FHFA 2026 conforming loan limits announcement; lender jumbo program guidelines (terms vary by lender).

Last reviewed September 2026 by Keith Lopez, NMLS #2814077.

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