Jumbo Loan Down Payment Calculator 2026
Jumbo mortgages exceed the conforming loan limit ($806,500 in 2026 baseline, up to $1,209,750 in high-cost counties). Minimum down payment varies by lender and loan size: 10% (jumbo up to $1M), 15% ($1-2M), 20% ($2-3M), 25%+ ($3M+). Stricter underwriting: 720+ FICO, 12-month cash reserves, 43% DTI cap.
2026 Conforming Loan Limits
Federal Housing Finance Agency (FHFA) sets baseline at $806,500 for 2026. High-cost counties (parts of California, NYC metro, DC, Hawaii, Alaska) reach $1,209,750. Anything above triggers jumbo underwriting — stricter than agency-backed loans. Always check FHFA county lookup before sizing your loan.
Jumbo Down Payment Tiers
Industry pattern by loan size: $0-$1M jumbo: 10% down (best lenders). $1-$2M: 15% down typical. $2-$3M: 20% required by most. $3M+: 25-30% standard. Second homes add 5-10% over primary. Investment properties: 30%+ minimum. Some private banks (JPM, Citi, BofA wealth divisions) offer pledged-asset loans with $0 down using securities as collateral.
Why Reserves Matter More Than Income
Jumbo lenders require 6-12 months of PITI reserves AFTER closing. For $2M loan at 7% rate: monthly PITI ~$15,000, reserves needed $90K-$180K. This kills many high-income buyers who put everything into down payment. Always solve for total cash needed = down payment + closing costs (3-4%) + reserves. Underwriters will deny a borrower who passes DTI but fails reserves.
Source: FHFA 2026 Conforming Loan Limits, Mortgage Bankers Association 2025 Underwriting Standards. Last updated: May 2026.