This page provides ARM and fixed jumbo mortgage calculators along with super jumbo loan rates. Use the three tabs to select between these options.
Below is our ARM super jumbo mortgage calculator. Click on the other tabs above to switch to the super jumbo fixed-rate calculator or to view current super jumbo loan rates. Fixed-rate loans make up the majority of conventional home loans, though adjustable-rate loans are far more common for buyers purchasing with a jumbo or super jumbo mortgage.
If you want to look exclusively at the principal & interest portion of your loan, you can use the following calculator to compare fixed-rates & ARMs side-by-side.
Below is our FRM super jumbo mortgage calculator. Click on the other tabs above to switch to the super jumbo ARM calculator or to view current super jumbo loan rates.
If you want to look exclusively at the principal & interest portion of your loan, you can use the following calculator to compare fixed-rates, ARMs & I-O only payments side-by-side.
The following table shows current 30-year super jumbo mortgage rates available in . You can use the menus to select other loan durations, alter the loan amount, or change your location.
Fannie Mae & Freddie Mac are government-sponsored enterprises which provide liquidity to the national mortgage market by buying mortgages and keeping them in their portfolios or packaging the residential mortgages into mortgage-backed securities (MBS) sold to secondary investors. They have limits on the size of the residential mortgages they package into securities. Jumbo mortgages are loans which back home purchases where the amount financed exceeds the conforming mortgage loan limit. The conforming loan limits are listed below.
As of 2024 the FHFA set the conforming loan limit for single unit homes across the continental United States to $766,550, with a ceiling of 150% that amount in areas where median home values are higher. The limit is as follows for 2, 3, and 4-unit homes $981,500, $1,186,350, and $1,474,400. The limits are higher in Alaska, Hawaii, Guam, the U.S. Virgin Islands & other high-cost areas. Loans which exceed these limits are classified as jumbo loans.
The limits in the first row apply to all areas of Alabama, Arizona, Arkansas, Connecticut, Delaware, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Mexico, North Dakota, Ohio, Oklahoma, Rhode Island, South Carolina, South Dakota, Texas, Vermont, Wisconsin & most other parts of the continental United States. Some coastal states are homes to metro areas with higher property prices which qualify the county they are in as a HERA designated high-cost areas.
The limits in the third row apply to Alaska, Guam, Virgin Islands, Washington D.C & Hawaii.
| Units | 1 | 2 | 3 | 4 |
|---|---|---|---|---|
| Continental U.S. Baseline | $766,550 | $981,500 | $1,186,350 | $1,474,400 |
| Designated High-cost Areas | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
| Alaska, Hawaii, Guam & U.S. Virgin Islands | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 |
Jumbo loans exceed the conventional conforming mortgage limits.
Super jumbo loans are loans above this threshold, but different lenders in different parts of the country use different dollar denominations to refer to super jumbo. In the midwest & across most of the continental United States where homes are relatively cheap the amount used to refer to "super jumbo" is typically around $1,500,000 to $2,000,000. However, in Manhattan, spending $1,000,000 might not buy much more than a closet. In wealthier areas mortgage lenders might refer super jumbo as loans above $3,000,000 with caps ranging up to $10,000,000 to $20,000,000 and beyond.
Across the broader real estate market, at the end of 2018 roughly 10% of new refis & 6% of new home purchase loans were structured as traditional or hybrid ARM loans, with the remainer of the market using fixed rates. Fixed rate home loans simply dominate the market.
Compared to the typical homeowner, high-wealth families are more likely to use adjustable-rate loans to lower their short term interest expenses. CoreLogic highlighted how prevalent ARMs are for wealthy families:
ARMs remained the most popular option for those financing luxury homes. Roughly 76 percent of borrowers refinancing ARM loans opted to go with another ARM, and 31 percent of the fixed-rate borrowers switched to an ARM.
Due to the size of the loans, lenders exercise increased caution & greater scrutiny of borrowers. Great credit scores are a must. Most lenders will typically require at least a 10% or 20% down payment on large loans & proof of significant financial assets. Funding approval of high net worth individuals is done on a case-by-case basis. Interest rates also typically rise significantly with the amount borrowed. The spread over conforming mortgage rates might be close to a half percent for loans at or below $1.5 million while rising to a percent or two for loans above that level.
The Federal Reserve has supplied the conforming portion of the mortgage market with ample liquidity. More exotic loan structures are less liquid, making working with a mortgage broker more beneficial for homepowers with specific needs for niche products which are less liquid.
Loans can be structured as fixed-rate mortgages, ARM loans, hybrid loans or even negative amortizing option ARMs. Some people in finance get paid large annual performance bonuses or rely on long-term capital gains, prefering to keep their wealth working for them throughout the year and make lump sum payments on their home loan. Specialty mortgage brokers are frequently used to help match prospective home buyers with investment banks & other sources of private mortgage capital. Since these sorts of loans have limited liquidity and an exotic structure, they often tend to be pro-cyclical with the economic cycle. When downturns happen loose conditions can tighten suddenly with adjustable rates quickly increasing to compensate for the lower property equity & higher risk of default. Maintenance & property taxes are also major issues for owners of expensive homes. Owning a $20,000,000 home in New York City could lead to spending over $500,000 a year in property taxes.
Rent or Buy Preference
When property taxes are high, interest income deductions on income taxes are low, and interest rates are high the math on buying at the high end may not make a lot of sense, unless it is an emotional purchase or a location you know you want to be for a long time. Some high net worth individuals simply prefer to rent rather than buy to prevent locking up capital. Many ultra-high-net-worth individuals located in London, for example, preferred to rent rather than buy in 2023. The UK also charges a stamp duty tax, or property transaction tax, in addition to the other taxes typically paid by a homeowner in the US.
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