A jumbo loan is any loan above the conforming limit. For 2026 that limit is $832,750 for a single-family home in Clark County and the Portland metro (it’s adjusted every year). Above that, rates are typically about half a percent higher and the debt-to-income requirements are tighter. Not the end of the world, but nice to avoid if we can.
Some lenders honor next year’s higher limit ahead of the official change. If you’re close to the line, ask me.
Staying under the line
If a slightly larger down payment gets the loan amount to $832,750 or below, that’s usually the stronger play: better rate, easier qualifying. I’ll show you the cash difference next to the payment difference so you can decide.
What’s different about jumbo
Jumbo loans aren’t sold to Fannie Mae or Freddie Mac, so each lender sets its own rules. Expect a closer look at reserves (money left over after closing), stricter debt-to-income limits, and sometimes a second appraisal on higher values.
When a bank might beat me
I’ll be upfront about this one. Banks and credit unions that keep jumbo loans on their own books can price them however they want, and on very large loan amounts, especially adjustable-rate jumbos, a portfolio lender can sometimes beat the wholesale lenders I work through. If that’s your situation I’ll tell you, and I’ll still run my numbers so you have something to compare against. On conforming loans, it’s rarely close.
Jumbo VA
VA loans above the conforming limit are a category of their own with more variety in pricing. See the VA page, or just ask.