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Finance Calc Kit
Mortgages

Jumbo Loan Calculator

Calculate monthly mortgage payments, total interest, and down payment requirements for jumbo (non-conforming) home loans.

Home purchase details

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Estimated monthly payment

$7,940.49

Jumbo loan: $960,000.00

Principal & interest

$6,290.49

Down payment

$240,000.00

20.0% of purchase price

Total interest paid

$1,304,575.84

Taxes & insurance

$1,400.00

Monthly payment breakdown

Total$7,940.49
  • Principal & interest$6,290.4979.2%
  • Property tax$1,200.0015.1%
  • Insurance$200.002.5%
  • HOA$250.003.1%
Report tool

What is a jumbo loan?

A jumbo loan exceeds the conforming loan limits set by the FHFA each year. Because these loans are not eligible for purchase by Fannie Mae or Freddie Mac, lenders often require larger down payments, higher credit scores, and slightly higher interest rates than conforming mortgages.

This calculator estimates your monthly payment on a jumbo purchase, including principal, interest, property taxes, homeowners insurance, and HOA fees. For conforming loans under the annual limit, use the mortgage calculator. To compare two loan offers side by side, try the mortgage comparison calculator.

Monthly payment formula

The principal and interest portion uses the standard fixed-rate amortization formula on the loan amount after your down payment:

Property taxes, insurance, and HOA are added to the monthly P&I payment for a full housing cost estimate.

Worked example

A $1,200,000 home with 20% down leaves a $960,000 jumbo loan at 6.85% over 30 years. Principal and interest come to about $6,290 per month before taxes, insurance, and HOA are added.

Frequently asked questions

What loan amount qualifies as jumbo?
Jumbo loans exceed the FHFA conforming loan limit for your county. Limits vary by location and are updated annually. Check the current limit for your area before applying.
Do jumbo loans require a larger down payment?
Many lenders require 10% to 20% down on jumbo loans, though requirements vary. A larger down payment can improve your rate and reduce monthly payments.
Are jumbo loan rates higher?
Jumbo rates are often slightly above conforming rates because lenders take on more risk without government-sponsored enterprise backing. Your credit score and down payment also affect pricing.
Does this include PMI?
PMI is typically not required on jumbo loans when you meet the lender down payment threshold. This calculator focuses on P&I, taxes, insurance, and HOA.
Are my inputs stored on a server?
No. All math runs in your browser. The URL updates as you change inputs so you can share your scenario.

Resources and references

The formulas and methods in this calculator were checked against these independent sources.