UWM Jumbo Loans
A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum national amount for a conforming loan in 2023 is $726,200 in most counties, as determined by the Federal Housing Finance Agency (FHFA). In many states there are High Balance Conforming counties also a Homes that exceed the local conforming loan limit require a jumbo loan.
Also called non-conforming conventional mortgages, jumbo loans are considered riskier for lenders because these loans can’t be guaranteed by Fannie and Freddie, meaning the lender is not protected from losses if a borrower defaults. Jumbo loans are typically available with either a fixed interest rate or an adjustable rate, and they come with a variety of terms.
UWM Jumbo | Occupancy Types | Maximum DTI | Minimum Reserves Required | Min FICO | Max LTV/CLTV | Best For | Maximum Loan Amounts |
Years |
---|---|---|---|---|---|---|---|---|
Jumbo Yellow | Primary 2nd Home Investor |
50% | Determined by DU/LPA |
680 | 90% | Only 10% Down Can reach Higher Debt Ratios |
$3,500,000 $400,000 Min |
30 Years |
Jumbo Pink | Primary 2nd Home Investor |
45% | Determined by DU/LPA |
680 | 89.99% |
Only 10.001% Down |
$3,000,000 > Conforming |
30 Years |
Jumbo Purple |
Primary |
43% |
9 months | 700 | 80% |
|
$3,000,000 > Conforming > Agency HC |
30 Years |
Jumbo Green | Primary 2nd Home |
45% | 6 months | 680 | 80% | Properties up to 50 Acres | $2,500,000 > Conforming |
30 Years |
Jumbo Blue | Primary 2nd Home |
49.99% | 6 months | 660 | 80% | Can reach Higher Debt Ratios | $3,000,000 $400,000 Min |
30 Years |
Jumbo White |
Primary |
45% | Determined by DU/LPA |
700 | 80% | $3,000,000 $600,000 Min |
15 Years | |
Last Updated 2023-06-09 - Information subject to change. Certain restrictions apply. Subject to borrower approval. |