Jumbo Home Loan Qualifications

A loan amount exceeding the conforming loan limit of  484,350 for a single-family home is a Jumbo loan.  Therefore, Jumbo home loan programs are available for those higher amounts.  Above all, the Jumbo Easy Close program have fewer document needs and little or no reserves required. As a result, buyers close fast with less effort.  To that end, Jumbo Easy Close is the best loan program to avoid jumbo home loan massive paperwork. In addition, 6 to 18 months of mortgage payments in the bank as reserves. Want a fast-easy closing?   Jumbo Easy Close is the solution.

Moreover, jumbo home loans have limitations due to Dodd-Frank Bill rules of Ability to Repay. In addition to the Qualified Mortgage rules, other guidelines may apply.

For Example, restrictions other competitors may have:

  • Debt to income ratios limited to 43% and some lenders to 40%
  • Borrowers need to have 6 months or more mortgage payments as reserves after closing.
  • Odd and quirky and stringent underwriting guidelines.
  • More document requirements

CharterStone Mortgage has a Solution:

Jumbo Easy Close

  • Guidelines are very similar to Conforming (Fannie Mae)
  • Faster closings – Fewer document requirements
  • No or Fewer Reserve requirements
  • Up to 90% financing with no mortgage insurance
  • Debt to income ratio allowed up to 43%
  • Very Competitive rates
  • Closings have occurred within three weeks with this program

Standard Jumbo

Underwriting guidelines for Jumbo home loan can be quirky. Granted that the most qualified borrower can be derailed by a minor guideline. Accordingly, having only one loan program option may result in the borrower starting over with a new lender.  Most banks have only one program.

Above all, the benefit of CharterStone Mortgage has access to multiple jumbo loan programs. The options facilitate the matching of the loan application file to the best loan program for each unique borrower- seamlessly.


  • Multiple programs to fit your financial situation
  • Highly experienced Loan Advisor
  • Very competitive rates
  • Faster closing than our competition
  • Superior service and outstanding consumer experience

Alternate Jumbo

Alternate programs designed for the borrower that does not fit the traditional Jumbo home loan programs. Visit the alternate credit and income page for more options.

  • Up to 90% financing – No Mortgage insurance
  • Debt to income ratios up to 50%
  • Credit scores and situations that do not fit traditional jumbo programs allowed
  • Alternate income allowed such as bank statement programs for example.

Investor cash flow are no tax returns required.  Bank statements as income programs are available.

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