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  1. Home
  2. Mortgage
  3. Jumbo
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A Jumbo Loan with big benefits

More than a home loan. A lot more.

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Loans above $806,500 up to $3,000,000

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Adjustable- and fixed-rate options

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Rates as low as % (% APR)¹

Get My Rates

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

Speak with a home loan expert
+1-800-970-7766
jumbo living room

Choose a Jumbo Loan that fits your needs

PenFed’s Jumbo Loans feature flexible fixed-rate and adjustable-rate options. You receive a great interest rate along with money-saving benefits before, while, and long after you buy. If your loan amount will be above $806,500 up to $3,000,000, you’ll likely need a Jumbo Loan.

Types of Jumbo Loans

What is a Jumbo Fixed-Rate Mortgage?

With a fixed-rate Jumbo Mortgage, your interest rate stays the same for the life of the loan (or term). Your interest rate will not change.

What is a Jumbo Adjustable-Rate Mortgage?

An Adjustable-Rate Mortgage (ARM) has an introductory period with a lower interest rate than a fixed-rate mortgage. After the introductory period has expired, the rate can move up or down with market changes.

Mortgage Knowledge Center

What is a Jumbo Loan?
What is a Conforming Loan?

big house

How Do I Get a Jumbo Loan?

You'll need the following to qualify for a jumbo loan for all borrowers:

  • A satisfactory credit score (700 or higher)
  • At least 2-year employment history
  • Proof of income - typically 1-2 months of paystubs
  • At least 1 year of W2s
  • Acceptable debt-to-income-ratio (DTI)
  • Minimum 6-months reserves required


Possible additional financial verification like:

  • Self-employment income (2 years of tax returns)
  • Current debts information (auto, alimony, credit card, etc.)

Apply before becoming a member.

After your application, we’ll help you:

1. Discover you’re eligible to become a PenFed member

2. Open a Savings/Share Account and deposit at least $5

Mortgage Payment Calculator

Estimate your mortgage payment, based on your home’s purchase price, down payment, rate, and term.

The calculator above is for educational purposes only. Your actual rate, payment, and costs could be higher. Get an official Loan Estimate before choosing a loan.

Free eBooks Download

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EBOOKS

 Buying a Home

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 FHA Loans 101

 VA Loans – Everything You Need to Know

 Home Equity Line of Credit (HELOC)

Free eBooks
free ebook download from curious to closing

EBOOKS

 Buying a Home

 Selling Your Home

 Refinancing Your Home

 FHA Loans 101

 VA Loans – Everything You Need to Know

 Home Equity Line of Credit (HELOC)

Free eBooks

Mortgage Knowledge Center

How Much House Can You Afford? And How Do You Figure It Out?

Home Buying Process Steps

How to Prepare to Buy a House in 6 Months

See All Articles

PenFed Mortgage Products

VA Loans
Conventional Loans
Refinancing
HELOC
ARM Loans

Disclosures

1Except for holidays, rates are updated Monday through Friday at 10:15am EST. The advertised rates and points are subject to change. The information provided is based on discount point, which equals percent of the loan amount, and assumes the purpose of the loan is to purchase a property with a 30-year, non-conforming, fixed-rate loan. Loan amount of $1,009,000; loan-to-value ratio of 70%; credit score of 760; and DTI of 18% or less. The property is an existing single-family home and will be used as a primary residence. The advertised rates are based on certain assumptions and loan scenarios, and the rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment, and our internal credit criteria. Other rates, points, and terms may be available. All loans are subject to credit and property approval.

Rates quoted require a loan origination fee of 1%; not to exceed $1995. Speak to a PenFed Mortgage Loan Officer for additional details.
 

Jumbo Mortgages: Available for loan amounts above $806,500 up to $3,000,000 in most states. For Alaska and Hawaii, available for loan amounts above $1,209,750 up to $3,000,000. Jumbo loan eligibility criteria varies depending on Loan-to-value ratio, credit score, loan amount and occupancy. Additional limitations may apply.

Points are the responsibility of the borrower and not covered in promotions.

To receive any advertised product you must become a member of PenFed.

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This credit union is federally insured by the National Credit Union Administration. Rates are current as of May 2025 unless otherwise noted and are subject to change.

APY = Annual Percentage Yield
APR = Annual Percentage Rate


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