Equity and specialty
Jumbo loan
When the loan amount exceeds what Fannie Mae will buy, underwriting becomes a conversation rather than a checklist. We know which investors say yes to which stories.
How the jumbo loan works
A jumbo loan is any mortgage above the conforming loan limit for the county. In Fulton and the surrounding metro counties, that threshold puts plenty of ordinary Buckhead and Druid Hills houses into jumbo territory.
Because these loans are held by banks and private investors rather than sold to Fannie Mae, guidelines vary by investor. Reserve requirements are real: expect to document six to twelve months of payments in liquid assets after closing.
Self-employed income, restricted stock, partnership distributions and rental portfolios all turn up in jumbo files. This is where an experienced loan officer earns their keep, by knowing in advance which investor will treat your income the way it should be treated.
What you get with us
Not program features. The things our office does on every file of this type.
Investor matching
We shop your specific income story across several jumbo investors before submitting anywhere.
Reserve planning
We calculate required reserves up front so a last-minute asset request never derails the closing.
ARM comparison
A 7/6 ARM often prices well below a 30-year fixed on jumbo. We show both.
Two appraisals when required
Some loan sizes need two valuations. We order both at the same time rather than in sequence.
Asset depletion option
Substantial liquid assets can be converted into qualifying income on certain programs.
Interest-only availability
Available on select jumbo programs for borrowers with variable compensation.
Step by step
Six stages, and what each one actually asks of you.
Income structure review
Before anything else, we map how you actually get paid.
Investor selection
We match your file to the investor most likely to approve it at the best price.
Pre-approval
Fully underwritten, not automated, so the letter carries weight in a competitive offer.
Appraisal
One or two appraisals depending on loan size and investor.
Manual underwriting
A human reviews the full file. Expect more documentation and more questions than a conforming loan.
Closing
Sign at the attorney's office, typically 25 to 35 days from contract.
Why people choose it
High loan amounts
Financing well beyond the conforming ceiling.
No mortgage insurance
Most jumbo programs skip monthly insurance even below 20% down.
Flexible income treatment
Bonus, RSU, K-1 and rental income handled properly.
ARM pricing advantage
Adjustable options frequently price below fixed on jumbo.
What moves your pricing
Six levers underwriting actually looks at. Two of them you can change before you apply.
| Factor | How it affects you |
|---|---|
| Loan amount tier | Pricing and reserve requirements step up at several thresholds. |
| Reserves | Six to twelve months of payments in liquid assets after closing. |
| Credit score | 700 is a practical floor, 760 unlocks the best pricing. |
| Income documentation | Two years of returns for self-employed borrowers is standard. |
| Property type | Condos and unique properties face stricter investor rules. |
| Down payment | 10% is possible on some tiers, 20% opens more investors. |
Programs people compare this with
- Conventional loanThe workhorse loan for buyers with steady income and reasonable credit. Down payments start at 3%.Compare
- Cash-out refinanceReplace your mortgage with a larger one and take the difference in cash at closing.Compare
- Home equity line of creditA revolving line against your equity that leaves your first mortgage exactly where it is.Compare
Questions about this program
Fulton, DeKalb, Cobb, Gwinnett and the surrounding counties share one baseline conforming limit that the FHFA republishes each year. Anything above it is jumbo. We confirm the current figure for your file.
Not always. Several investors go to 10% down on loan amounts under roughly $1.5 million, usually with a higher score requirement and more reserves.
It is normal. Bring two years of personal and business returns plus year-to-date profit and loss. We will tell you within a day how underwriting will read your income.
Jumbo ARMs often price meaningfully below the fixed rate, and if you expect to sell or refinance within the fixed period, the savings are real. We model both against your actual time horizon.
Magnolia Lending Group
Ready to look at a jumbo loan?
A pre-approval takes about four minutes to start and one business day to issue. No cost and no obligation.
Free consultation. Sample rates and assistance amounts shown on this site are illustrations, not offers.