FICO Credit Scores Needed to Get a Jumbo Loan

Minimum Credit score

Many people search online for the best possible rate but may overlook their payment history on consumer debts. Your credit score is the result of a few components such as your payment history, the amount of debt you carry, and the type of debt you've paid.

Did you know that 1 out of 4 consumers have credit bureau reporting errors? Your credit score weighs heavily on how much of a mortgage loan you can be approved for during the process.

Qualifying Credit Score For A Jumbo Mortgage Loan

Qualifying quidelines for a jumbo loans can vary from one bank to the next. Many banks have their thresholds at 680 and above. So if your FICO credit score is below that you'll have to look elsewhere. Banks tends to be conservative anyway when it comes to lending.

However, a mortgage broker/lender is highly likely to have a multiude of programs to help you. The odds increase more when it is a company that offers many jumbo loan programs.

So, the goods news is you have solutions. Listed below is what you can expect for financing options on loans above $453,100. California jumbo limits kick-in above $649,750 in San Diego, and $679,650 in L.A., Orange, Ventura, Santa Barbara and Bay area counties.

720 Credit Score

A borrower with a credit score above 720 has the best chance to get a jumbo loan that requires only a 5-percent down payment or a 95 LTV refinance provided they meet the other criteria. Click here for information.

700 Credit Score

A credit score ranging from 700 - 719 implies you are a responsible consumer when it comes to repaying your debt. A few aggressive jumbo lenders recognize this and offer 90-percent financing to qualified borrowers who desire a low down payment or have sufficient equity appreciation.

680 Credit Score to 699

Borrowers who fall between a 680 and 699 score seeking jumbo mortgage financing can come in with a 15-percent down payment or refinance their home's current loan up to 85% financing.

660 to 679 Credit Score

Let's say your middle credit score is 670. Currently, there are programs that allow borrowers to put down as little as 15% up to $2 million. You have the option to provide traditional income documentation or 24 months of personal bank statements showing your income.

650 Credit Score

If you have a minimum score between 640 and 659, your loan to value improves a little bit. Now the maximum financing is as follows:

  • 85-percent LTV or 15% down
  • Maximum loan up to $2 million
  • without PMI
  • traditional income documentation
  • 24 months of Bank statements (loans from $1M to $2M at 80% LTV)
  • owner-occupied residential property

620 Credit Score

Borrowers with a middle FICO credit score of 620 to 639, there's jumbo mortgage financing up to 80-percent of the property value or 20-percent down using either traditional documentation or 12-to-24 months of bank statements on the purchase or refinance of an existing loan on a primary residence. Cash-out refinances and second homes are eligible at slightly lower loan-to-values.


Loan terms and Guidelines are subject to change and not all borrowers will qualify. Interest rates for borrowers with credit scores less than 680 are substantially higher than market rates for those with 20% down or 20% equity and credit scores over 700. You may be best served by speaking with an NMLS licensed loan originator about your credit balances and limits. He/she may be able to help you to raise your score to obtain the best possible rate.

We can accommodate your needs in California, Colorado, Washington, Oregon, Texas, and Florida.