Based in Medford, Summit Lending Solutions assists qualified borrowers across Southern Oregon and the Rogue Valley with jumbo financing, while continuing to serve Phoenix and our other licensed markets.
Jumbo Loans
A jumbo loan is a mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). In most U.S. counties, the 2024 conforming loan limit is $832,750 for a single-family home. Any loan amount above this threshold is considered a jumbo loan and cannot be purchased by Fannie Mae or Freddie Mac.
Jumbo Loans
Craig Pribyl at Summit Lending Solutions is an independent mortgage broker licensed in 6 states. As an independent broker, Craig shops dozens of lenders to find you the most competitive Jumbo Loans rate and terms. You get the expertise of a seasoned mortgage professional combined with access to a wide range of lenders.
There is no set maximum for jumbo loans — the limit depends on the lender. Most lenders offer jumbo loans up to $2-3 million, and some specialty lenders go higher. Craig works with multiple jumbo lenders to find the right fit for your loan amount and financial profile.
Historically, jumbo loan rates were higher than conforming rates. However, in recent years the difference has narrowed significantly. For well-qualified borrowers with strong credit and assets, jumbo rates are often very competitive with conventional rates. Craig will shop multiple lenders to find you the competitive rate option.
Yes, some lenders offer jumbo loans with as little as 10% down, though 20% is more common. With less than 20% down, you may be required to carry private mortgage insurance (PMI) or pay a higher interest rate. Craig can help you evaluate the tradeoffs for your specific situation.
