JUMBO Financing Options

Call me to discuss which option makes the most sense for you. Greg Rank (317) 603-0912

What counts as a jumbo loan in Indiana

A jumbo loan is any mortgage above the conforming limit, which for 2026 is $832,750 for a one-unit home. Indiana has no high-cost counties, so that same threshold applies in all 92. One dollar over it and you are in jumbo territory.

What jumbo financing actually looks like

Jumbo is not one product. I work with several programs, and the right one depends on the property, your credit profile, and what you are trying to do.

Fixed rate. Loan amounts from just above the conforming limit up to $3.5 million. Credit score minimums generally run between 660 and 700 depending on the program, debt-to-income up to 50%, and combined loan-to-value up to 90%. Available on primary and second home purchases, rate-and-term refinances, and cash-out refinances.

Adjustable rate. Fixed for 5, 7 or 10 years before the first adjustment, up to $3 million, generally 680 or higher credit, debt-to-income up to 45%, and up to 80% loan-to-value. Worth a look if you have a clear reason to expect a sale or refinance inside that window.

Interest only. A 30-year loan with the first 10 years interest only, then 20 years of principal and interest. Up to $3 million, generally 700 or higher credit, debt-to-income up to 43%, and up to 80% loan-to-value. This is a cash-flow tool, not a cheaper loan, and it deserves a careful conversation before you choose it.

Reserve requirements, and the maximum cash you can take out on a cash-out refinance, vary from one program to the next. That is the part that surprises people most often, so it is worth asking early rather than late.

Figures reviewed September 2026. Jumbo guidelines are set by individual lenders rather than by Fannie Mae or Freddie Mac, so they vary between programs and change over time. Confirm current terms before relying on them.

Frequently Asked Questions About Jumbo Loans

What is a jumbo loan and when do I need one in Indiana?
A jumbo loan is any mortgage larger than the conforming loan limit set by the Federal Housing Finance Agency, $832,750 for a one-unit home in 2026. Indiana has no high-cost counties, so that same limit applies in all 92 of them. In practice, jumbo financing comes up on higher-priced purchases in Carmel, Zionsville, Westfield and the luxury pockets of Indianapolis, and on refinances where the balance runs above the limit.

What credit score is needed for a jumbo loan?
It depends on the program. Minimum scores on the fixed-rate jumbo products above start in the 660–700 range, prime jumbo ARMs start at 680, and the interest-only and Jumbo Max ARM programs start at 700. Higher scores buy better pricing. Because jumbo loans are not backed by Fannie Mae or Freddie Mac, the investor holds the risk, so credit, income, assets and reserves all get a closer look than on a conforming loan.

How much down payment is required for a jumbo loan in Indiana?
As little as 10% on some of the fixed-rate programs, which go up to 90% CLTV. Most jumbo financing lands at 20% down. The ARM and interest-only programs cap at 80% LTV. Which one applies to you depends on the loan amount, the property type, and how much reserve money you have left after closing, since the larger loan amounts carry reserve requirements of their own.

Are jumbo loan rates higher than conventional rates?
Not necessarily. Jumbo rates used to sit above conforming rates as a rule, but the spread has narrowed, and jumbo pricing is sometimes better than conforming for a strong borrower. There is no single jumbo rate. Every wholesale investor prices differently by loan amount, LTV and credit score, which is exactly why shopping several of them matters more on a jumbo than on a conforming loan.

Can I get a jumbo loan for an investment property in Indiana?
Yes. The prime jumbo ARM programs are eligible on investment properties for purchases, rate/term refinances and cash-out refinances at up to 80% LTV, so 20% down rather than the 25–30% many lenders quote. Investment jumbo financing does carry heavier reserve requirements than a primary residence. If the property is better underwritten on its rental income than on your personal income, a DSCR loan is often the stronger fit, worth comparing both before you commit.

Related Resources

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• Current Mortgage Rates in Indiana
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