Free jumbo mortgage calculator
Calculate jumbo mortgage payments for loan amounts above the conforming limit — enter loan amount, rate, and term, updated live, as you type.
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Taxes, insurance & fees
All results are estimates. How accurate is this?
Your loan over time
Full Amortization Schedule
Your mortgage payment is $2,447.62 per month for a $400,000 home.
| Home price | $400,000.00 |
| Down payment | $80,000.00 (20%) |
| Loan amount | $320,000.00 |
| Interest rate | 6.5% |
| Loan term | 30 years (360 payments) |
| Principal & interest | $2,022.62 |
| Property tax (mo) | $300.00 |
| Home insurance (mo) | $125.00 |
| Total monthly payment | $2,447.62 |
| Total of 360 payments | $728,142.36 |
| Total interest paid | $408,142.36 |
How does the term affect my payment?
How does the down payment affect my payment?
Payment schedule
| # | Date | Payment | Principal | Interest | Balance |
|---|---|---|---|---|---|
| 1 | Aug 2026 | $2,022.62 | $289.28 | $1,733.33 | $319,710.72 |
| 2 | Sep 2026 | $2,022.62 | $290.85 | $1,731.77 | $319,419.86 |
| 3 | Oct 2026 | $2,022.62 | $292.43 | $1,730.19 | $319,127.44 |
| 4 | Nov 2026 | $2,022.62 | $294.01 | $1,728.61 | $318,833.43 |
| 5 | Dec 2026 | $2,022.62 | $295.60 | $1,727.01 | $318,537.82 |
| 6 | Jan 2027 | $2,022.62 | $297.20 | $1,725.41 | $318,240.62 |
| 7 | Feb 2027 | $2,022.62 | $298.81 | $1,723.80 | $317,941.80 |
| 8 | Mar 2027 | $2,022.62 | $300.43 | $1,722.18 | $317,641.37 |
| 9 | Apr 2027 | $2,022.62 | $302.06 | $1,720.56 | $317,339.31 |
| 10 | May 2027 | $2,022.62 | $303.70 | $1,718.92 | $317,035.62 |
| 11 | Jun 2027 | $2,022.62 | $305.34 | $1,717.28 | $316,730.27 |
| 12 | Jul 2027 | $2,022.62 | $307.00 | $1,715.62 | $316,423.28 |
Results are estimates. Consult a professional.
How the jumbo mortgage calculator works
A jumbo mortgage is any loan that exceeds the conforming loan limit set annually by the Federal Housing Finance Agency (FHFA). For 2024, the baseline conforming limit is $766,550 for a single-family home, with higher ceilings in designated high-cost areas (up to $1,149,825). Jumbo loans are not backed by Fannie Mae or Freddie Mac, so lenders bear the full credit risk — which typically results in higher rates and stricter qualification requirements.
Jumbo underwriting is more conservative than conforming loans. Lenders typically require a minimum 20% down payment, a credit score of 720 or higher, a debt-to-income (DTI) ratio at or below 43%, and 12 months of cash reserves after closing. Some lenders require two appraisals for high-value properties. Rates can be competitive with conforming rates during periods of strong investor demand for jumbo mortgage-backed securities.
FHFA 2024 Conforming Loan Limits — baseline and high-cost area limits by county.Worked example: $1.2M home, 20% down, 7.25% rate
Borrower purchases a $1,200,000 home with a 20% down payment ($240,000), financing $960,000 as a jumbo mortgage at 7.25% APR over 30 years. No mortgage insurance is required with 20% down.
Jumbo mortgage monthly payment and total interest
All examples assume a 30-year fixed-rate jumbo mortgage with 20% down. No PMI applies. Total interest shown over full 30-year term.
| Loan Amount | Rate 7.0% | Rate 7.5% | Rate 8.0% | Total Interest (7.5%) |
|---|---|---|---|---|
| $750,000 | $4,992 | $5,244 | $5,505 | $1,137,840 |
| $900,000 | $5,990 | $6,293 | $6,606 | $1,365,480 |
| $1,200,000 | $7,987 | $8,391 | $8,808 | $1,820,760 |
| $1,500,000 | $9,984 | $10,489 | $11,010 | $2,276,040 |
Source: FHFA conforming loan limits; Fannie Mae jumbo product guidelines; standard amortization formula.
Tips for jumbo mortgage borrowers
Jumbo loans require careful preparation and comparison shopping — the stakes are higher and lender requirements are more varied than in the conforming market. These five tips help you secure the best terms.
- Shop at least three jumbo lenders — Jumbo rates are not standardized the way conforming rates are (there's no Fannie/Freddie benchmark). Rate spreads between lenders on the same jumbo loan can exceed 0.50%, which translates to tens of thousands of dollars over the loan term.
- Strengthen your cash reserves — Most jumbo lenders require 12 months of PITI payments in liquid reserves after closing. On a $6,500/month loan this means keeping ~$78,000 in accessible savings. Some portfolio lenders require even more for very large loans.
- Consider an adjustable-rate jumbo — 5/1 or 7/1 jumbo ARMs often price 0.5–0.75% below fixed rates, and many high-income buyers in expensive markets sell or refinance within the initial fixed period. Run the break-even if your ownership horizon is under 7 years.
- Watch the conforming limit for your county — In high-cost counties (e.g., much of California, New York metro, Seattle), the conforming limit is higher than the baseline $766,550. A loan just above the baseline limit in such a county may still be conforming — which carries a lower rate and easier qualification.
- Check portfolio lender options — Banks and credit unions that hold loans on their own balance sheet (rather than selling to Fannie/Freddie) sometimes offer more flexible jumbo terms, particularly for self-employed borrowers or those with complex income documentation.
Accuracy and limitations
This calculator uses the standard fixed-rate amortization formula. It does not account for points paid at origination, loan-level pricing adjustments, property taxes, homeowners insurance, HOA fees, or second mortgages (piggyback loans). Jumbo rates shown are illustrative — actual rates depend on your credit score, LTV, property type, loan amount, occupancy, and the lender's current pricing. High-cost area conforming limits vary by county and are updated each November by FHFA. Verify your county's specific limit before assuming a loan is jumbo.
Not financial advice — consult a mortgage professional for your specific situation.
Jumbo mortgage terms defined
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