New Jumbo Loan Programs North Carolina

Mortgage and Lending with Jumbo Loan Center

Property values have continued a nice rebound across North Carolina in recent years, especially Charlotte.  As a result, mortgage companies are starting to pull back on Jumbo loan qualifying requirements and allowing for higher loan to value. In fact qualified home buyers can now secure up to 95% Jumbo financing, only 5% down payment needed up to loan amounts of $2.0 mil. 


Let's discuss exactly what is considered a jumbo and some of LTV criteria. A Jumbo loan is a mortgage that exceeds the conforming loan limits of $484,350.  Some high-cost locations around the U.S. can exceed this limit (California, Florida, etc) but most of the nation the limit is at $484,350. Approved Charlotte home buyers can now secure Jumbo loans with only a 5% down payment. Also, current homeowners that have a Jumbo loan can refinance (non cash-out) up to 95% with no mortgage insurance.  Here is a break down of the latest jumbo loan guidelines: This applies to both Jumbo purchase and rate-term Jumbo refinance transactions.


  • 95% Loan to Value: Up to $2,000,000: min 700+ credit score. Buyers can choose from a single loan up to $2,000,000 or a 1st and 2nd mortgage (80/15/5) combo up to 2 million.  Most Jumbo options require NO monthly mortgage insurance (PMI) depending on the property states.  
  • 90% Loan to Value:  Up to $3,000,000 with 720+ fico score
  • 85% Loan to Value: Up to $3,500,000 with  740+ fico score

Note: these requirements are as of 2020. As always, mortgage guidelines can change frequently, please be sure to visit for the latest updates.


North Carolina Jumbo Mortgage Requirements:

  • Income: buyers must document with W2 and pay stubs.  Self-employed 1099 buyers will need to provide two full years of tax returns.
  • Approved credit: Credit scores of 700 or above to be approved for any jumbo programs over 90% LTV. Lower credit scores down to 660 can be approved with higher down payments - 20% + down.
  • U.S. citizens only.
  • Banking and assets:  must be well documented with two months of savings, retirement accounts, statements. Most jumbo loans programs will also require a minimum of (3-6) months of payment reserves.
  • Single-family homes, townhomes and condos eligible. Large acreage, vacant land, rehab homes are not eligible.
  • Primary Residence, vacation homes.  Down payment requirements will increase when the property is a vacation home. 

5% down payment Jumbo mortgage advantage:

  • Single Family Homes, Town Homes and approved Condos eligible.
  • Same day loan pre-approvals, with in-house underwriting.
  • Financing available up to $7,000,000 with a greater down payment. 
  • Fix rate or adjustable-rate mortgage options available. 30-year fix, 15-year fix, 5/1/, 7/1, etc ARM. 
  • NO origination fee on Jumbo fixed-rate or adjustable-rate mortgage home loans for purchase transactions. No origination fee significantly reduces closing costs for buyers.
  • No monthly private mortgage insurance (PMI) option.
  • Single loan and combo "piggyback" 80/15 or 80/10 programs available.
  • Fast loan pre-approval process – only takes a couple of min to get started. 


Reach out to us today by calling Ph: 800-840-6449 for additional info.  We serve buyers nationwide including NC: Charlotte, Raleigh, Greensboro, Durham, Winston-Salem, Fayetteville, Cary, Wilmington, High Point, Greenville, Asheville, Concord, Gastonia, Jacksonville, Chapel Hill, Rocky Mount, Burlington, Huntersville, Kannapolis, Apex, Hickory, Goldsbor, Mecklenburg County 

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