Above $832,750. Not above my pay grade.
Westlake, Tarrytown, Lakeway, Barton Creek. If you're buying above the conforming loan limit in these Austin-area markets, you're probably here. The underwriting is pickier but the rates are more competitive than most people expect.
Overview
When the loan amount exceeds $832,750 in Texas, it doesn't fit inside the Fannie/Freddie box. That's jumbo territory. The underwriting is more detailed. Higher credit expectations. Larger reserves. Two appraisals in some cases. Manual review instead of automated approval.
But here's what surprises people: jumbo rates have tightened significantly. The spread over conforming is a fraction of what it used to be. The days of paying a full point more for jumbo are mostly gone.
What matters most at this level is the lender match. Jumbo pricing is less standardized than conforming. One lender's best jumbo deal can look very different from another's on the same file. I work with lenders who specialize in jumbo pricing and know what their underwriters want to see.
Key Details
How I Handle This
Jumbo files live or die on lender selection and file preparation. I match your profile to a jumbo lender that fits your specific scenario, then prepare the file the way their underwriter expects to see it. Clean documentation. Clear asset sourcing. No loose ends.
These files take more time than conforming. I set realistic expectations on timeline upfront and keep you updated throughout.
Questions I Get
Are jumbo rates much higher?
Not like they used to be. The spread has compressed. In many cases, jumbo is within a quarter point or less of conforming.
What reserves do I need?
Depends on loan amount and lender. But expect to show substantial liquid assets beyond your down payment and closing costs. I tell you the specific target early.
How long does a jumbo take to close?
Longer than conforming. The manual underwriting and potentially multiple appraisals add time. Plan on a few extra weeks. I manage the timeline.
Can I get jumbo for an investment property?
Yes. Stricter requirements and higher down payment. But it exists.
Buying above the conforming limit?
Send me your scenario. I'll match you with a jumbo lender that fits your profile.