{
  "id": "jumbo-loan",
  "version": "4d7d46bf5223",
  "status": "published",
  "name": "Jumbo Loan Calculator",
  "question": "What is my jumbo loan payment?",
  "summary": "Computes the monthly payment on a jumbo home loan with property tax, insurance and HOA dues, and compares the loan with the FHFA conforming loan limits for 2026.",
  "category": "finance",
  "subcategory": "loans",
  "url": "https://www.acalculator.org/finance/jumbo-loan-calculator",
  "markdown": "https://www.acalculator.org/finance/jumbo-loan-calculator.md",
  "kind": "function",
  "method": "Loan L = price − down payment; principal and interest = L × r ÷ (1 − (1 + r)^−n), with r the rate ÷ 12 and n the months, or L ÷ n at 0%; tax, insurance and HOA dues are added. L is compared with the FHFA 2026 limits.",
  "assumptions": [
    "The limits are for one-unit properties. FHFA sets higher limits for two to four units.",
    "The page does not look up your county. Check your county’s limit on the FHFA website.",
    "The rate is fixed, payments are monthly, and tax, insurance and HOA dues stay the same.",
    "Mortgage insurance and closing costs are not included. Jumbo lenders set their own down payment and insurance rules."
  ],
  "inputs": {
    "$schema": "https://json-schema.org/draft/2020-12/schema",
    "type": "object",
    "properties": {
      "price": {
        "title": "Home price",
        "description": "The price of the home.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 1000,
        "maximum": 1000000000
      },
      "down": {
        "title": "Down payment",
        "description": "The cash you pay toward the price. The loan is the price minus this.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 1000000000
      },
      "rate": {
        "title": "Interest rate",
        "description": "The fixed yearly rate your lender quotes. The monthly rate is this ÷ 12.",
        "type": "number",
        "x-unit": "percent",
        "minimum": 0,
        "maximum": 30
      },
      "years": {
        "title": "Loan term (years)",
        "description": "The length of the mortgage, for example 30 or 15 years.",
        "type": "integer",
        "minimum": 1,
        "maximum": 40
      },
      "tax": {
        "title": "Property tax (per year)",
        "description": "The yearly property tax as a percent of the home price.",
        "type": "number",
        "x-unit": "percent",
        "minimum": 0,
        "maximum": 10
      },
      "insurance": {
        "title": "Home insurance (per year)",
        "description": "The homeowners insurance premium for one year.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 1000000
      },
      "hoa": {
        "title": "HOA dues (per month)",
        "description": "Homeowners association or condo dues for one month.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 100000
      }
    }
  },
  "outputs": {
    "monthly": {
      "label": "Monthly payment",
      "description": "Principal and interest, property tax, home insurance and HOA dues for one month.",
      "format": "money"
    },
    "pi": {
      "label": "Principal and interest",
      "description": "The level monthly payment on the loan.",
      "format": "money"
    },
    "taxes": {
      "label": "Property tax",
      "description": "The property tax for one month.",
      "format": "money"
    },
    "insuranceMonthly": {
      "label": "Home insurance",
      "description": "The home insurance for one month.",
      "format": "money"
    },
    "hoaMonthly": {
      "label": "HOA dues",
      "description": "The HOA dues for one month.",
      "format": "money"
    },
    "loan": {
      "label": "Loan amount",
      "description": "The price minus the down payment.",
      "format": "money"
    },
    "ltv": {
      "label": "Loan-to-value",
      "description": "The loan as a percent of the price.",
      "format": "percent"
    },
    "interest": {
      "label": "Total interest",
      "description": "Every principal and interest payment added up, minus the loan.",
      "format": "money"
    },
    "total": {
      "label": "Total cost",
      "description": "The down payment plus every monthly payment over the loan.",
      "format": "money"
    },
    "overBaseline": {
      "label": "Above the baseline limit by",
      "description": "The loan minus the 2026 baseline limit of $832,750, or 0 at or under it.",
      "format": "money"
    },
    "limitNote": {
      "label": "Conforming loan limit",
      "description": "How the loan compares with the 2026 limits for a one-unit property.",
      "format": "text"
    }
  },
  "defaultAnswer": {
    "inputs": {
      "price": 1200000,
      "down": 240000,
      "rate": 6.75,
      "years": 30,
      "tax": 1.1,
      "insurance": 3600,
      "hoa": 0
    },
    "outputs": {
      "monthly": 7626.541727054866,
      "pi": 6226.541727054866,
      "taxes": 1100,
      "insuranceMonthly": 300,
      "hoaMonthly": 0,
      "loan": 960000,
      "ltv": 80,
      "interest": 1281555.0217397516,
      "total": 2985555.0217397516,
      "overBaseline": 127250,
      "limitNote": "This loan is above the 2026 baseline limit of $832,750, so it is a jumbo loan in most counties. High-cost counties have limits up to $1,249,125."
    },
    "text": "A $960,000.00 jumbo loan at 6.75% over 30 years costs $7,626.54 a month, of which $6,226.54 is principal and interest."
  },
  "examples": [
    {
      "given": {
        "price": 1200000,
        "down": 240000,
        "rate": 6.75,
        "years": 30,
        "tax": 1.1,
        "insurance": 3600
      },
      "expect": {
        "pi": 6226.541727054866,
        "taxes": 1100,
        "insuranceMonthly": 300,
        "monthly": 7626.541727054866,
        "loan": 960000,
        "ltv": 80,
        "interest": 1281555.0217397518,
        "total": 2985555.0217397516,
        "overBaseline": 127250,
        "limitNote": "This loan is above the 2026 baseline limit of $832,750, so it is a jumbo loan in most counties. High-cost counties have limits up to $1,249,125."
      },
      "source": "hand calculation in content.mdx; OpenStax, Contemporary Mathematics, section 6.12 Renting and Homeownership (monthly mortgage payment), https://openstax.org/books/contemporary-mathematics/pages/6-12-renting-and-homeownership; Federal Housing Finance Agency, FHFA Announces Conforming Loan Limit Values for 2026 (baseline $832,750; ceiling $1,249,125; Alaska, Hawaii, Guam and the U.S. Virgin Islands $1,249,125 and $1,873,675), https://www.fhfa.gov/news/news-release/fhfa-announces-conforming-loan-limit-values-for-2026 (retrieved 2026-11-01)"
    },
    {
      "given": {
        "price": 2000000,
        "down": 500000,
        "rate": 7,
        "years": 15,
        "tax": 1,
        "insurance": 6000,
        "hoa": 200
      },
      "expect": {
        "pi": 13482.424062786404,
        "monthly": 15849.09072945307,
        "overBaseline": 667250,
        "limitNote": "This loan is above the 2026 ceiling of $1,249,125, so it is a jumbo loan in every county outside Alaska, Hawaii, Guam and the U.S. Virgin Islands, where limits go up to $1,873,675."
      },
      "source": "hand calculation in content.mdx; OpenStax, Contemporary Mathematics, section 6.12 Renting and Homeownership (monthly mortgage payment), https://openstax.org/books/contemporary-mathematics/pages/6-12-renting-and-homeownership; Federal Housing Finance Agency, FHFA Announces Conforming Loan Limit Values for 2026 (baseline $832,750; ceiling $1,249,125; Alaska, Hawaii, Guam and the U.S. Virgin Islands $1,249,125 and $1,873,675), https://www.fhfa.gov/news/news-release/fhfa-announces-conforming-loan-limit-values-for-2026 (retrieved 2026-11-01)"
    },
    {
      "given": {
        "price": 2400000,
        "down": 500000,
        "rate": 6.5,
        "years": 30
      },
      "expect": {
        "pi": 12009.292446366311,
        "overBaseline": 1067250,
        "limitNote": "This loan is above every 2026 limit, up to $1,873,675, so it is a jumbo loan in every county."
      },
      "source": "hand calculation in content.mdx; OpenStax, Contemporary Mathematics, section 6.12 Renting and Homeownership (monthly mortgage payment), https://openstax.org/books/contemporary-mathematics/pages/6-12-renting-and-homeownership; Federal Housing Finance Agency, FHFA Announces Conforming Loan Limit Values for 2026 (baseline $832,750; ceiling $1,249,125; Alaska, Hawaii, Guam and the U.S. Virgin Islands $1,249,125 and $1,873,675), https://www.fhfa.gov/news/news-release/fhfa-announces-conforming-loan-limit-values-for-2026 (retrieved 2026-11-01)"
    },
    {
      "given": {
        "price": 1040000,
        "down": 207250,
        "rate": 6.5,
        "years": 30
      },
      "expect": {
        "loan": 832750,
        "overBaseline": 0,
        "limitNote": "This loan is at or under the 2026 baseline limit of $832,750, so it is not a jumbo loan in any county."
      },
      "source": "hand calculation in content.mdx: the limit itself is conforming; Federal Housing Finance Agency, FHFA Announces Conforming Loan Limit Values for 2026 (baseline $832,750; ceiling $1,249,125; Alaska, Hawaii, Guam and the U.S. Virgin Islands $1,249,125 and $1,873,675), https://www.fhfa.gov/news/news-release/fhfa-announces-conforming-loan-limit-values-for-2026 (retrieved 2026-11-01)"
    },
    {
      "given": {
        "price": 1000000,
        "down": 200000,
        "rate": 0,
        "years": 20
      },
      "expect": {
        "pi": 3333.3333333333335,
        "interest": 0,
        "total": 1000000,
        "limitNote": "This loan is at or under the 2026 baseline limit of $832,750, so it is not a jumbo loan in any county."
      },
      "source": "hand calculation in content.mdx: at 0%, the payment is 800,000 ÷ 240"
    }
  ],
  "sources": [
    "Federal Housing Finance Agency, FHFA Announces Conforming Loan Limit Values for 2026 (November 25, 2025). Retrieved 2026-11-01. https://www.fhfa.gov/news/news-release/fhfa-announces-conforming-loan-limit-values-for-2026",
    "OpenStax, Contemporary Mathematics, section 6.12 Renting and Homeownership: the monthly mortgage payment formula. Retrieved 2026-11-01. https://openstax.org/books/contemporary-mathematics/pages/6-12-renting-and-homeownership"
  ],
  "related": [
    "mortgage",
    "physician-loan",
    "amortization",
    "mortgage-comparison"
  ],
  "changelog": []
}