Welcome to MortgageBase, your source for jumbo and super jumbo home loans for over two decades. We’re proud to cater to homeowners and buyers with a variety of financial needs. We understand that your situation is unique; we’ll take the time to understand your needs and fit you with the best mortgage for your home. Take a moment to learn more about jumbo and super jumbo mortgages, our home loan products, and the qualifications required to attain a jumbo loan—and feel free to get a free jumbo mortgage rate quote while you’re here!

What Is a Jumbo Mortgage?

A jumbo mortgage is a home loan that exceeds $424,100 and a super jumbo mortgage exceeds $1 million. Here at MortgageBase, we can lend $10 million or more on your primary residence and vacation homes. We offer both jumbo mortgage refinances, as well as mortgages for home purchases.

Following are a few of the jumbo loan programs that we have to offer:

Our Jumbo Mortgage Loan Programs:

Jumbo Adjustable Rate Mortgages (ARMs)

  • Interest rates are fixed for 5, 7, or 10 years for our jumbo and super jumbo ARMs; then the interest rate is subject to adjustment according to the index every year for the remainder of the loan.
  • Jumbo and super jumbo ARMs provide a lower initial interest rate than a traditional jumbo 30-year fixed rate mortgage.
  • Super jumbo adjustable mortgage rates are available through MortgageBase for loan amounts of $3 million and higher.

Interest Only Jumbo Mortgages

  • Interest only jumbo and super jumbo mortgages have a period of time where the borrower is only required to pay the interest of the loan—there’s no obligation to pay the principal of the loan during this period. These mortgages allow for much lower interest only payments for the first 10 years of the mortgage.
  • Interest-only rates are only available on our 5, 7, or 10/1 jumbo adjustable rate programs.
  • After the initial interest only period, monthly payments go towards amortizing (or paying down) the loan for the remaining years of the loan term.

Jumbo Fixed Rate Mortgages

  • As the name implies, your principal and interest payments won’t change for the term of the loan with jumbo and super jumbo fixed rate mortgages.
  • Available in 30, 20 or 15 year terms.

Who Qualifies for Jumbo Home Loans?

Lenders seek out borrowers who are least likely to default on a loan over its lifetime. As such, lenders seek out buyers who have great credit, a good debt to income ratio, capital for a down payment.

Your Credit: Lenders compete for borrowers who have great credit, and the better credit you have, the better rate you can earn on your home loan. To attain a jumbo or super jumbo mortgage, you may need to have a credit score over 700.

Your Debt to Income Ratio: Borrowers are often required to be making more money than they’re spending. Debt obligations should only account for about 40 percent or less of your total income. Lenders seek borrowers who can pay their monthly interest, taxes, and insurance with their income.

Your Capital: If you’re purchasing a home with a jumbo or super jumbo loan, you’ll need to have enough capital to place a down payment. Plan on putting down 20 percent or more of the value of the home that you’re purchasing. If you’re borrowing a larger amount, you may have to put 25 to 30 percent down on your home.

If you’re refinancing, you’ll also need to have 20 percent equity or more to attain jumbo or super jumbo mortgage refi.

Other factors: Lenders may also look at your income history, as well as your employment history, to assess the consistency of your income. If you’re considering quitting or switching jobs, it may be in your interest to wait until after attaining a mortgage.

Jumbo Mortgage FAQ

How do jumbo loans differ from traditional loans?

Unlike traditional loans, jumbo and super jumbo loans are completely privatized, and they aren’t backed by Fannie Mae and Freddie Mac, government entities that secure mortgages. As such, jumbo and super jumbo loans aren’t subject to some of the rules put forth by Fannie Mae and Freddie Mac. Since jumbo and super jumbo loans exceed the highest attainable traditional loan value ($424,100), these loans aren’t government backed.

Are rates higher for jumbo loans than traditional loans?

At the moment, jumbo mortgage rates are comparable to traditional loans—you may even be able to attain a better rate with a jumbo loan. If you’re curious about the rates of our mortgages, you can get a jumbo mortgage rate quote today!

What kind of property can I purchase with a jumbo loan?

MortgageBase loans can be utilized to purchase or refinance a primary residence as well as a vacation, secondary residences and investment properties. 

Get the Right Loan With MortgageBase

For competitive rates, a swift turnaround time, and unbeatable customer service, count on your lender here at MortgageBase. We have a variety of loan options perfectly suited to your needs. With over two decades of experience offering jumbo mortgages we’re certain that you’ll be satisfied with your home loan. Learn more about us here at MortgageBase, and get in touch with us today if you have any questions or if you’re ready to get started!

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