Compare Today’s Jumbo Mortgage Rates

Showing: Purchase, Good (720-739), 30-year fixed, Single family home, Primary residence.

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30-year fixed

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Northpointe: NMLS#447490

4.5

Lowest APR

Lowest monthly payment

Conventional 30-year fixed

APR

6.53%

Interest rate

6.375%

Mo. payment

$3,744

Insurance $0

Total fees

$9,603

EXPLORE QUOTE

About this lender

Call (866) 356-0885|

Visit lender's website

Pros

Closing may be available within 15 business days.
Offers loans and programs aimed at making homeownership more accessible.
Offers mortgages for investment properties, including jumbo loans.

Cons

Average mortgage origination fees are on the high side, according to the latest data.
Bank’s mobile app isn’t useful for mortgage borrowers.

Northpointe: NMLS#447490

4.5

Lowest APR

Lowest monthly payment

Conventional 30-year fixed

APR

6.53%

Interest rate

6.375%

Mo. payment

$3,744

Insurance $0

Total fees

$9,603

EXPLORE QUOTE

About this lender

Call (866) 356-0885|

Visit lender's website

Pros

Closing may be available within 15 business days.
Offers loans and programs aimed at making homeownership more accessible.
Offers mortgages for investment properties, including jumbo loans.

Cons

Average mortgage origination fees are on the high side, according to the latest data.
Bank’s mobile app isn’t useful for mortgage borrowers.

Tomo: NMLS#2059741

4.0

Great for Mortgage rate transparencyConventional 30-year fixed

APR

6.534%

Interest rate

6.375%

Mo. payment

$3,744

Insurance $0

Total fees

$9,894

EXPLORE QUOTE

on Tomo

About this lender

Visit lender's website

Pros

Special program offers a pricing break for first first-time home buyers.
Offers financing options for self-employed borrowers and those without Social Security numbers.
Interactive mortgage rates tool takes credit score and location into account.

Cons

Purchase loans are not available in all states.
Doesn’t offer home equity loans or lines of credit.
No refinancing options are available.

Tomo: NMLS#2059741

4.0

Great for Mortgage rate transparencyConventional 30-year fixed

APR

6.534%

Interest rate

6.375%

Mo. payment

$3,744

Insurance $0

Total fees

$9,894

EXPLORE QUOTE

on Tomo

About this lender

Visit lender's website

Pros

Special program offers a pricing break for first first-time home buyers.
Offers financing options for self-employed borrowers and those without Social Security numbers.
Interactive mortgage rates tool takes credit score and location into account.

Cons

Purchase loans are not available in all states.
Doesn’t offer home equity loans or lines of credit.
No refinancing options are available.

Better: NMLS#330511

4.5

Great for digital convenienceConventional 30-year fixed

APR

6.557%

Interest rate

6.375%

Mo. payment

$3,744

Insurance $0

Total fees

$11,280

EXPLORE QUOTE

About this lender

Visit lender's website

Pros

Borrowers can apply, lock in a rate and receive a commitment letter within one day.
Offers both HELOCs and home equity loans with a high borrowing limit of 90% CLTV.
Offers mortgages for manufactured homes, as well as financing for self-employed borrowers.

Cons

No mobile app; customer service is by email or phone only.
Borrower must provide contact information to see customized rates.
Does not offer renovation or construction loans.

Better: NMLS#330511

4.5

Great for digital convenienceConventional 30-year fixed

APR

6.557%

Interest rate

6.375%

Mo. payment

$3,744

Insurance $0

Total fees

$11,280

EXPLORE QUOTE

About this lender

Visit lender's website

Pros

Borrowers can apply, lock in a rate and receive a commitment letter within one day.
Offers both HELOCs and home equity loans with a high borrowing limit of 90% CLTV.
Offers mortgages for manufactured homes, as well as financing for self-employed borrowers.

Cons

No mobile app; customer service is by email or phone only.
Borrower must provide contact information to see customized rates.
Does not offer renovation or construction loans.

Simplist: NMLS#1764611

4.5

Conventional 30-year fixed

APR

6.625%

Interest rate

6.625%

Mo. payment

$3,842

Insurance $0

Total fees

-$468

EXPLORE QUOTE

on Simplist

About this lender

Visit lender's website

Pros

Loan origination process can be completed online.
Offers government-backed FHA and VA loans.
Offers module that compares mortgage rates among other lenders.

Cons

Offers loans in many states and Washington, D.C., but not nationwide.
Does not offer home equity loans or lines of credit.

Simplist: NMLS#1764611

4.5

Conventional 30-year fixed

APR

6.625%

Interest rate

6.625%

Mo. payment

$3,842

Insurance $0

Total fees

-$468

EXPLORE QUOTE

on Simplist

About this lender

Visit lender's website

Pros

Loan origination process can be completed online.
Offers government-backed FHA and VA loans.
Offers module that compares mortgage rates among other lenders.

Cons

Offers loans in many states and Washington, D.C., but not nationwide.
Does not offer home equity loans or lines of credit.

Farmers Bank of Kansas City: NMLS#613839

4.5

Great for Rate transparencyConventional 30-year fixed

APR

6.75%

Interest rate

6.75%

Mo. payment

$3,892

Insurance $0

Total fees

-$2

EXPLORE QUOTE

About this lender

Visit lender's website

Pros

Displays customized rates, with fee estimates, without requiring contact information.
Offers home equity loans and lines of credit.
Mortgage origination fees are on the low side compared to other lenders, according to the latest federal data.

Cons

Doesn’t offer government-backed FHA or USDA loans, or adjustable-rate mortgages.
Home renovation loans are not available.
Mortgage rates are on the high side compared to other lenders, according to the latest federal data.

Farmers Bank of Kansas City: NMLS#613839

4.5

Great for Rate transparencyConventional 30-year fixed

APR

6.75%

Interest rate

6.75%

Mo. payment

$3,892

Insurance $0

Total fees

-$2

EXPLORE QUOTE

About this lender

Visit lender's website

Pros

Displays customized rates, with fee estimates, without requiring contact information.
Offers home equity loans and lines of credit.
Mortgage origination fees are on the low side compared to other lenders, according to the latest federal data.

Cons

Doesn’t offer government-backed FHA or USDA loans, or adjustable-rate mortgages.
Home renovation loans are not available.
Mortgage rates are on the high side compared to other lenders, according to the latest federal data.

First Federal Bank: NMLS#408902

4.5

Conventional 30-year fixed

APR

6.875%

Interest rate

6.875%

Mo. payment

$3,942

Insurance $0

Total fees

EXPLORE QUOTE

on First Federal Bank

About this lender

Visit lender's website

Pros

Over 40% of all loans last year were FHA, VA or USDA loans.
Average mortgage rates are on the lower side, according to the latest federal data.
Offers 15-, 20-, 25-, and 30-year repayment terms, which is unusually flexible.

Cons

No dedicated mobile app for mortgage borrowers.
Some loans (including home equity products) are geographically limited.

First Federal Bank: NMLS#408902

4.5

Conventional 30-year fixed

APR

6.875%

Interest rate

6.875%

Mo. payment

$3,942

Insurance $0

Total fees

EXPLORE QUOTE

on First Federal Bank

About this lender

Visit lender's website

Pros

Over 40% of all loans last year were FHA, VA or USDA loans.
Average mortgage rates are on the lower side, according to the latest federal data.
Offers 15-, 20-, 25-, and 30-year repayment terms, which is unusually flexible.

Cons

No dedicated mobile app for mortgage borrowers.
Some loans (including home equity products) are geographically limited.

Central Bank: NMLS#407985

4.0

Conventional 30-year fixed

APR

6.99%

Interest rate

6.99%

Mo. payment

$3,988

Insurance $0

Total fees

EXPLORE QUOTE

About this lender

Visit lender's website

Pros

Among the best when it comes to online convenience.
Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
Claims to offer preapproval within 24 hours of loan application.

Cons

You'll have to complete a loan application to see mortgage interest rates.
Bank branch locations limited to the Midwest.
Does not offer home equity lines of credit.

Central Bank: NMLS#407985

4.0

Conventional 30-year fixed

APR

6.99%

Interest rate

6.99%

Mo. payment

$3,988

Insurance $0

Total fees

EXPLORE QUOTE

About this lender

Visit lender's website

Pros

Among the best when it comes to online convenience.
Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
Claims to offer preapproval within 24 hours of loan application.

Cons

You'll have to complete a loan application to see mortgage interest rates.
Bank branch locations limited to the Midwest.
Does not offer home equity lines of credit.

Mutual of Omaha: NMLS#1025894

3.5

Great for Loan varietyConventional 30-year fixed

APR

6.99%

Interest rate

6.99%

Mo. payment

$3,988

Insurance $0

Total fees

-$684

EXPLORE QUOTE

About this lender

Visit lender's website

Pros

Offers a variety of mortgage options, including jumbo loans and FHA, VA and USDA loans.
Offers $3,000 grant to buyers in some areas.
Loans are available for construction, renovations and manufactured homes.

Cons

You’ll have to contact the lender for mortgage rates.
Doesn’t offer mortgages in all 50 states.
Home equity loans and lines of credit are not available.

Mutual of Omaha: NMLS#1025894

3.5

Great for Loan varietyConventional 30-year fixed

APR

6.99%

Interest rate

6.99%

Mo. payment

$3,988

Insurance $0

Total fees

-$684

EXPLORE QUOTE

About this lender

Visit lender's website

Pros

Offers a variety of mortgage options, including jumbo loans and FHA, VA and USDA loans.
Offers $3,000 grant to buyers in some areas.
Loans are available for construction, renovations and manufactured homes.

Cons

You’ll have to contact the lender for mortgage rates.
Doesn’t offer mortgages in all 50 states.
Home equity loans and lines of credit are not available.

New American Funding: NMLS#6606

4.0

Great for first-time home buyers | customer serviceConventional 30-year fixed

APR

7.017%

Interest rate

6.99%

Mo. payment

$3,988

Insurance $0

Total fees

$1,629

EXPLORE QUOTE

on New American Funding

About this lender

Call (888) 978-8131|

Visit lender's website

Pros

Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
Its home equity line of credit can be used for a primary residence or second home.

Cons

Average origination fees are on the high side, according to the latest federal data.
Personalized mortgage rates are not available on the website without providing contact information.

New American Funding: NMLS#6606

4.0

Great for first-time home buyers | customer serviceConventional 30-year fixed

APR

7.017%

Interest rate

6.99%

Mo. payment

$3,988

Insurance $0

Total fees

$1,629

EXPLORE QUOTE

on New American Funding

About this lender

Call (888) 978-8131|

Visit lender's website

Pros

Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
Its home equity line of credit can be used for a primary residence or second home.

Cons

Average origination fees are on the high side, according to the latest federal data.
Personalized mortgage rates are not available on the website without providing contact information.

NBKC: NMLS#409631

4.5

Great for first-time home buyers | digital convenience | customer serviceConventional 30-year fixed

APR

7.032%

Interest rate

Mo. payment

$3,992

Insurance $0

Total fees

$1,911

EXPLORE QUOTE

on NBKC

About this lender

Call (888) 871-2381|

Visit lender's website

Pros

Mortgage rates are on the low side compared to other lenders, according to the latest federal data.
VA loans represent more than a quarter of purchase volume, a larger share than many lenders NerdWallet reviews.
Offers a variety of loan types for purchase and refinance, including fixed- and adjustable-rate loans and government options

Cons

HELOCs and no-down-payment loans are available only in the Kansas City metro area.
Mobile app focuses on online banking, not mortgages.
You’ll need to share contact information to see customized mortgage rates.

NBKC: NMLS#409631

4.5

Great for first-time home buyers | digital convenience | customer serviceConventional 30-year fixed

APR

7.032%

Interest rate

Mo. payment

$3,992

Insurance $0

Total fees

$1,911

EXPLORE QUOTE

on NBKC

About this lender

Call (888) 871-2381|

Visit lender's website

Pros

Mortgage rates are on the low side compared to other lenders, according to the latest federal data.
VA loans represent more than a quarter of purchase volume, a larger share than many lenders NerdWallet reviews.
Offers a variety of loan types for purchase and refinance, including fixed- and adjustable-rate loans and government options

Cons

HELOCs and no-down-payment loans are available only in the Kansas City metro area.
Mobile app focuses on online banking, not mortgages.
You’ll need to share contact information to see customized mortgage rates.

HSBC Bank: NMLS#399799

5.0

Conventional 30-year fixed

APR

7.379%

Interest rate

7.375%

Mo. payment

$4,145

Insurance $0

Total fees

$267

EXPLORE QUOTE

on HSBC Bank

About this lender

Visit lender's website

Pros

Offers an online application and loan process updates.
Offers mortgages for investment properties.
Makes it easy to browse current rates and get a customized mortgage rate quote.

Cons

Does not offer FHA or VA government-backed loans.
No renovation mortgage options.

HSBC Bank: NMLS#399799

5.0

Conventional 30-year fixed

APR

7.379%

Interest rate

7.375%

Mo. payment

$4,145

Insurance $0

Total fees

$267

EXPLORE QUOTE

on HSBC Bank

About this lender

Visit lender's website

Pros

Offers an online application and loan process updates.
Offers mortgages for investment properties.
Makes it easy to browse current rates and get a customized mortgage rate quote.

Cons

Does not offer FHA or VA government-backed loans.
No renovation mortgage options.

Rocket Mortgage, LLC: NMLS#3030

4.5

Great for digital convenience | customer serviceConventional 30-year fixed

APR

7.647%

Interest rate

7.625%

Mo. payment

$4,247

Insurance $0

Total fees

$1,250

EXPLORE QUOTE

on Rocket Mortgage, LLC

About this lender

Visit lender's website

Pros

Reported average time to close is 15 days faster than industry average.
FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
Borrowers can apply via mobile app.

Cons

Origination fees are on the higher end, according to the latest federal data.
No construction or renovation loans.
Physical branches are only available in Detroit, Cleveland, and Phoenix.

Rocket Mortgage, LLC: NMLS#3030

4.5

Great for digital convenience | customer serviceConventional 30-year fixed

APR

7.647%

Interest rate

7.625%

Mo. payment

$4,247

Insurance $0

Total fees

$1,250

EXPLORE QUOTE

on Rocket Mortgage, LLC

About this lender

Visit lender's website

Pros

Reported average time to close is 15 days faster than industry average.
FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
Borrowers can apply via mobile app.

Cons

Origination fees are on the higher end, according to the latest federal data.
No construction or renovation loans.
Physical branches are only available in Detroit, Cleveland, and Phoenix.

About These Rates: The lenders whose rates appear on this table are NerdWallet’s advertising partners. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender’s site. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner’s assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.

Trends and Insights

Mortgage rate trends (APR)

NerdWallet’s mortgage rate insight

6.900%

30-year fixed-rate

“

On Thursday, November 21, 2024, the average APR on a 30-year fixed-rate mortgage remained at 6.900%. The average APR on a 15-year fixed-rate mortgage remained at 6.088% and the average APR for a 5-year adjustable-rate mortgage (ARM) remained at 7.684%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 1 basis point higher than one week ago and 40 basis points lower than one year ago.

A basis point is one one-hundredth of one percent. Rates are expressed as annual percentage rate, or APR.

Current mortgage and refinance rates

Accurate as of 11/21/2024

Product	Interest Rate	APR
30-year fixed-rate	6.816%	6.900%
20-year fixed-rate	6.660%	6.769%
15-year fixed-rate	5.955%	6.088%
10-year fixed-rate	5.934%	6.130%
7-year ARM	7.208%	7.580%
5-year ARM	7.333%	7.684%
3-year ARM	8.125%	8.355%
30-year fixed-rate FHA	5.902%	6.719%
30-year fixed-rate VA	5.963%	6.346%

A Beginner’s Guide to Jumbo Mortgages

Last updated on September 6, 2024

Written by

Taylor Getler

Writer

Reviewed by

Michelle Blackford

Edited by

Jeanette Margle

Lead Assigning Editor

Fact Checked

Written by

Taylor Getler

Writer

Reviewed by

Michelle Blackford

Edited by

Jeanette Margle

Lead Assigning Editor

Fact Checked

What is a jumbo mortgage?

A jumbo mortgage is a home loan above the conforming loan limit, which is $766,550 in most counties in 2024. The conforming limit is greater in some counties with high housing costs, up to $1,149,825 in 2024. Mortgages for more than the conforming limit are jumbo loans.

NerdWallet’s conforming loan limit tool can help you identify whether you’ll need a jumbo loan.

» MORE: Calculate how much house you can afford

Jumbo loan requirements

In order to qualify for a jumbo loan with the widest range of lenders, you should meet the following minimum requirements:

Credit score of at least 700, though individual lenders may require this to be higher.
Debt-to-income ratio (DTI) no higher than 45%, meaning that your debts (including housing costs) make up no more than 45% of your income. Some lenders prefer this ratio below 36%.
Down payment of 10% or more. This is set by individual lenders, and some may require as much as 20%.
Cash reserves to cover several months of mortgage payments, up to one full year.

How to find jumbo mortgage rates today

NerdWallet’s mortgage rate tool can help you find today’s competitive jumbo mortgage rates. In the comparison section above, enter the purchase price and down payment. (The loan amount, not the purchase price, should be above the conforming loan limit for a jumbo loan.) After clicking “Update results,” you can see jumbo mortgage interest rate quotes without providing personal information.

Jumbo mortgage rates vary by lender

Jumbo mortgages don't have to abide by some of the restrictions that are imposed on conforming loans. Each lender has leeway to offer its unique combination of interest rate and fees. For that reason, it is vital to shop and compare offers.

After you apply, each lender will provide you with a Loan Estimate, which is a three-page document that details the interest rate, origination fees and closing costs. Comparing Loan Estimates from more than one lender will give you confidence that you’re getting the right loan for your situation.

Should you consider a jumbo mortgage?

You should consider a jumbo mortgage if you’re buying a home that exceeds the conforming loan limit in your area and are in a position to qualify for the more stringent requirements a jumbo loan will carry.

Jumbo loan pros and cons

Pros

Jumbo loans provide a way to finance homes that exceed the limit imposed on conventional loans.
Interest rates are often competitive with — and can even be lower than — conventional rates.

Cons

Stricter requirements to qualify.
Not offered by all lenders.

How to find a jumbo loan lender

Shopping around with at least three lenders will give you the best chances of finding the lowest rate. NerdWallet’s list of the best jumbo loan lenders can be a great place to start your search.

Learn more about jumbo mortgages:

Frequently asked questions

Are jumbo loan rates higher?
Jumbo loans don’t necessarily have higher rates than conventional loans — in fact, they can be lower. Jumbo loans have much stricter qualification standards, meaning that these borrowers, with their high credit scores and substantial cash reserves, are a safer bet for lenders.
Can you put down 10% on a jumbo loan?
A 10% down payment is often a minimum requirement for getting a jumbo loan. However, this varies by lender, and some will want a higher amount (as much as 20% in some cases). This can be affected by your borrower profile, including your credit score, debt-to-income ratio and cash reserves.

About the author: Taylor Getler is a home and mortgages writer for NerdWallet. Her work has been featured in outlets such as MarketWatch, Yahoo Finance, MSN and Nasdaq. Taylor is enthusiastic about financial literacy and helping consumers make smart, informed choices with their money. Email: [email protected].