Jumbo Loan Calculator

Calculate payments on mortgages above the $806,500 conforming limit. See your monthly payment, total cost, and how it compares to a conforming loan.

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$20%
%
%
Monthly Payment · Jumbo Loan
$6,387
$960,000 loan · 7.00% · 30 years
Down Payment: $240,000
Principal: $960,000
Total Interest: $1,339,285
Loan Amount
$960,000
Conforming Limit (2024)
$806,500
Amount Above Limit
$153,500
Total Interest
$1,339,285
Total Cost
$2,299,285
Down Payment
20.0%
Conforming Loan Comparison (at $806,500)
Conforming Monthly Payment
$5,231
Your Monthly Payment
$6,387
Monthly Difference
+$1,156
Total Interest Difference
+$262,646

Detailed breakdown of how your $960,000 loan compares to the $806,500 conforming limit.

Your Loan Amount
$960,000
Jumbo loan
Conforming Limit
$806,500
2024 baseline limit
Over Conforming Limit
$153,500
Jumbo portion
Monthly Payment Premium
$1,156
Extra cost vs conforming
Lifetime Interest Premium
$262,646
Extra interest over loan life
Down Payment
$240,000
20.0% of home price

A piggyback strategy uses a conforming first mortgage ($806,500) plus a second mortgage ($153,500) to avoid jumbo loan pricing — potentially saving money on rates.

%
Piggyback Strategy
$7,134/mo
First: $5,231/mo · Second: $1,903/mo
Total interest: $1,151,521
Save $187,764 total interest
Single Jumbo Loan
$6,387/mo
One loan: $960,000 at 7.00%
Total interest: $1,339,285
Simpler: one payment, one lender
First Mortgage
$806,500
Conforming at 6.75%
Second Mortgage
$153,500
Piggyback at 8.50%
Monthly Difference
$747
Jumbo is cheaper/mo
Total Interest Saved
$187,764
Piggyback saves more

How to Use This Jumbo Loan Calculator

Enter your home price, down payment, interest rate, and loan term to calculate your jumbo loan payment. The calculator automatically compares your loan to the conforming limit and shows the cost difference.

Home Price & Down Payment

Your loan amount (home price minus down payment) must exceed $806,500 to be a jumbo loan. Jumbo lenders typically require 10–20% down. The calculator warns you if your down payment falls below the minimum threshold.

Jumbo vs. Conforming Rate Comparison

Enter both your jumbo rate and the current conforming rate to see a side-by-side monthly payment and total interest comparison. This helps you understand the premium you're paying for a larger loan.

Jumbo Loan Payment Formula

Loan Amount = Home Price − Down Payment

Monthly Payment = P × [r(1+r)^n] / [(1+r)^n - 1]

Where:
P = Loan Amount
r = Monthly rate (annual rate ÷ 12)
n = Total months (years × 12)

Jumbo threshold (2026): $806,500

Example: $1,200,000 home with 20% down ($240,000) = $960,000 loan. At 7.0% for 30 years: monthly P&I = $6,391. A conforming loan of $806,500 at 6.75% costs $5,235/month — a difference of $1,156/month ($416,160 over 30 years).

Example: Jumbo Purchase in San Francisco

Elena's Jumbo Home Purchase

Buying a $1.5M home in San Francisco with 20% down. Credit score 760, dual income household of $400,000.

Home Price$1,500,000
Down Payment (20%)$300,000
Jumbo Loan Amount$1,200,000
Interest Rate7.0% (30-year jumbo)
Monthly Payment$7,989
Total Interest (30 yrs)$1,076,040
Total Loan Cost$2,276,040
Conforming Limit Amount Over$433,450 above limit

With a 760 credit score and 20% down, Elena qualifies for the best jumbo rates. She compared rates from 5 lenders and saved 0.375% off the initial offer, reducing her monthly payment by $410.

Frequently Asked Questions

A jumbo loan is a mortgage that exceeds the conforming loan limit — $806,500 for single-family homes in 2026 in most U.S. counties (higher limits apply in high-cost areas like Hawaii and Alaska). Jumbo loans can't be purchased by Fannie Mae or Freddie Mac, so lenders carry more risk and apply stricter qualification standards.
Most jumbo lenders require 10–20% down. On a $1M home, that's $100,000–$200,000. Loans above $1.5M often require 20–25%. Some portfolio lenders offer jumbo loans with 10% down for highly qualified borrowers. The more you put down, the better your rate and the easier you'll qualify.
Historically yes — jumbo rates were 0.25–0.5% higher. In 2022–2024, rates have been more volatile. In some periods, jumbo rates have actually been lower than conforming rates, especially for well-qualified borrowers. The best strategy is to get quotes from multiple jumbo lenders, including banks, credit unions, and mortgage brokers, as pricing varies more than on conforming loans.
Most jumbo lenders require a minimum credit score of 700, with preferred scores of 720–740 or higher. Lenders also scrutinize your debt-to-income ratio (usually 43% max), cash reserves (6–12 months of payments is common), and employment history. Self-employed borrowers often face extra documentation requirements.
In designated high-cost areas, the conforming limit can be up to 150% of the standard limit — $1,209,750 for single-family homes in 2026. This covers areas like Los Angeles, New York City, San Jose, and Hawaii. If you're in one of these areas, you may not need a jumbo loan even for a $1M+ purchase. Check FHFA's conforming loan limit map for your county.

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