Andrade Real Estate Services

The Jumbo Program is designed for borrowers purchasing homes that exceed conforming loan limits. This program offers competitive fixed-rate financing for higher-value primary, second home, or investment properties. It follows Agency standards unless otherwise noted and provides flexibility for creditworthy borrowers who need larger loan amounts without mortgage insurance.

This program is ideal for buyers who:

Need financing above the conforming loan limit for their county and property type.
Prefer fixed-rate financing with no mortgage insurance.
Have strong credit (typically 680+ FICO).

Property Type	Credit Score	Min Down	Max LTV/CLTV	Max DTI	Max Loan	Notes
1–4 Units, PUD, Condo	660+	20%	80%	50%	$2M	15- or 30-year fixed available.
1–4 Units, PUD, Condo	680+	10%	90%	50%	$2M	30-year fixed only.
1–4 Units, PUD, Condo	700+	20%	80%	50%	$3M	15- or 30-year fixed available.

Occupancy Requirement
Primary residence Borrower must intend to occupy the property.
Note Second homes and investment properties are not included in this matrix.

Residency Eligibility
Eligible Valid SSN — must have a valid Social Security Number (SSN). Permanent residents — must provide a valid, unexpired Green Card. Non-permanent residents — eligible with valid visa or Employment Authorization Document (EAD). Individuals with work permits are eligible (must show valid documentation).
Ineligible ITIN borrowers are ineligible. Foreign nationals are ineligible. Borrowers without a social security number, or with a number that cannot be validated through the SSA are ineligible. Borrowers with diplomatic immunity are ineligible. Borrowers previously convicted of mortgage fraud are ineligible.

Income Consistency Requirements
Employment History Two years of employment history required with the same employer or with different employers in the same line of work, One year may be acceptable if the borrower has at least five years of prior experience in the same line of work or holds a professional license in that field, Education or training may be used to fill gaps in history, If on temporary disability, income used will be the lower of the disability pay or the regular employment income.
Notes Frequent job changes are allowed if they are within the same line of work and the income is stable or increasing, provided this is supported by documentation, Gaps over 6 months require explanation + current 6 months continuous employment, Education and training must be documented with transcripts, diploma, certificate, professional license, or official school/training program documentation, An employer’s letter is required and must confirm the return-to-work date. If the return-to-work date is before the first mortgage payment, use regular income; if the return-to-work date is after the first mortgage payment, use the lower of disability income or regular income.

Income Type	Requirement	Documentation
Wage Earner	2 years stable employment history (gaps allowed if explained). Must show likelihood of continuance.	30 days paystubs + 2 years W-2s; VOE if required.
Self-Employed	2 years of self-employment required (1 year possible with ≥5 years prior work history in same field or relevant professional license.). Must demonstrate stable or increasing income.	2 years tax returns; YTD P&L; business bank statements if requested.
Part Time	2-year history required; must be likely to continue.	W-2s, paystubs, VOE verifying hours and history.
Seasonal	2-year history required; must be likely to continue.	W-2s, paystubs, VOE or employer letter confirming rehire pattern.
Social Security, Disability, and Retirement Income	Must be expected to continue ≥ 3 years.	Award/benefit letter (SSA, pension, disability) + proof of receipt (bank statements, 1099s, or deposits).
Alimony / Child Support	Must be court-ordered or written agreement; ≥ 3 years continuance.	Divorce decree, separation agreement, or order + 6 months proof of receipt.

Down Payment Funds
Eligible Sources Borrower’s own funds, Large deposits, Gift funds, Retirement (401k / IRA), Sale of assets.
Requirements Must provide 2 months of bank statements, Large deposits must be sourced, Gift funds allowed with gift letter + proof of transfer (no seasoning required), If the down payment is 20% or less, the borrower must contribute at least 5% of their own funds, and gift funds can cover the rest, When the down payment exceeds 20%, the full amount may come from gift funds, Retirement funds require withdrawal terms + statements, Asset sales require bill of sale + proof of deposit.

Gift Funds
Eligible Donors Allowed for down payment and/or closing costs from acceptable sources such as: Spouse or domestic partner, Parent, step-parent, or foster parent, Child, step-child, foster child, or adopted child, Brother or sister, step-sibling, foster sibling, or adopted sibling, Grandparent, great-grandparent, step-grandparent, foster grandparent, or grandchild, Aunt, uncle, niece, nephew, or cousin, In-laws, future in-laws, fiancé or fiancée, ex-spouse, or former relative, Relative of a domestic partner, Godparents.
Ineligible Donors Not allowed as sources of down payment or closing cost funds: Real estate agent, Client’s employer, Loan originator or loan officer, Builder or contractor, Developer.

Temporary Interest Rate Buydowns
Not Allowed The Jumbo program does not permit any temporary interest rate buydowns.
Note All loans must be qualified at the full note rate, not a reduced temporary rate.

Loan Amounts
Minimum Loan Amount Must be $1 above the current FHFA conforming loan limit, based on the property’s county and number of units.
Maximum Loan Limits Up to $2,000,000 for standard credit tiers, Up to $3,000,000 for higher-credit borrowers (typically 700+ FICO), Loans above $2 million require two full appraisals, with the lower value used for qualification.

Non-Occupant Co-Borrowers
Eligibility Not allowed for qualification.
LTV Limits & Exceptions All borrowers must occupy the property as their primary residence; non-occupant co-borrowers are not permitted.

Property Types
Eligible SFRs (Single-Family Residences), 2–4 Units (must occupy one unit), PUDs (attached/detached), Condominium (attached/detached), warrantable, The maximum lot size is 20 acres, and properties over 10 acres must have three comparable sales with similar acreage.
Ineligible Manufactured homes, Non-Warrantable Condos, Condo Hotels or Motels (projects managed or operated as hotel/motel, hotel/motel conversions), Factory built housing, Geodesic/Dome homes, Properties held as leasehold, Log homes, Unique properties, Mixed use properties.

Seller Contributions
Maximum Contribution 3% max: LTV > 90%, 6% max: LTV 75.01% – 90%, 9% max: LTV ≤ 75%.
Allowed Uses Closing costs, Prepaid items, Discount points, Permanent buydowns.

Disclaimer – This matrix was published on 09/20/2025. Program guidelines may have changed since then. Please contact Alexis to confirm the most current requirements. For complete details, refer to the Partner Matrices PDF or reach out directly to Alexis for program-specific guidance.

Primary Residence

Leave a Comment Cancel reply

Explore

Get inTouch