Texas home buyers in high-cost locations of Austin, San Antonio, Dallas, Houston, etc. want to read about the new Jumbo financing mortgage options available in 2026. Below, we will discuss the current Jumbo loan requirements and what home buyers will need to know.
First, let’s discuss exactly what qualifies as a “Jumbo Loan” A Jumbo loan is a mortgage option for loan amounts over the federally mandated conventional limit. Currently, the conventional and VA loan limit is $832,750 in Texas.
Jumbo loans are actually much more flexible than most people think, and can help qualified buyers afford luxury homes in higher-cost locations. Jumbo loans today don’t always require a down payment of 20% as many assume. Lending guidelines have started to change in recent months, and some options from select mortgage companies and banks are now available for up to 95% financing.
5 percent down payment Jumbo loans can either be fixed-rate, or have a mortgage rate that adjusts after a fixed period (ARM) An adjustable-rate mortgage can get you a smaller monthly payment, but a fixed-rate mortgage can provide the added security of a fixed interest rate and monthly payment each year.
Texas 95% and 90 Percent Jumbo Financing Requirements:
- Loan amount limit is $1,500,000 – min 680 credit.
- Owner-occupied homes only
- Second homes can be financed with 10% down payment
- Applicants must have income and assets that can be fully documented
- Self-employed borrowers must have 2 years of tax returns
- Single-family, condo, town homes only. NO land, or lot loans permitted
- Financing options include 80-15 “piggyback” loans and also a single loan 95%. Most options with NO private mortgage insurance
Texas Jumbo Purchase Options:
- 90% financing is available up to $2,500,000 (primary homes only)
- Jumbo refinance both rate-term and cash out available for homeowners who currently have a high-balance mortgage. Cash-out is capped at 85% loan to value.
- Vacation and second home options start at 10 percent down payment. Loan amounts over $2.0m will require 15-20% down
- Some buyers with a previously discharged short sale (2 years) have Jumbo options up to 85% loan to value with a 720 credit score. Read more about the latest programs, including the all-new 96.5% programs, on the Jumbo Purchase page here.
Eligible military Veterans can also read about special VA Jumbo Loans available in Texas. VA Jumbo loans allow qualified Vets to finance up to $4,000,000 with no down payment. *Credit and payment reserves restrictions apply based on requested loan amount.
Jumbo Mortgage Source serves luxury homebuyers all over the U.S. including TX: Dallas, Houston, Fort Worth, Austin and San Antonio. Call Ph: 800-962-0677 for more information.