Jumbo Loans: Everything You Need to Know About Jumbo Mortgages in Michigan
If you’re looking to buy a high-value home in Michigan, a jumbo loan might be what you need. Jumbo loans are mortgages that exceed the conforming loan limits set by Fannie Mae and Freddie Mac. They’re designed for buyers of luxury homes or properties in high-cost areas—but they come with unique requirements, rates, and lender considerations. Here’s what you need to know before applying.
What Is a Jumbo Loan?
A jumbo loan is a mortgage that exceeds the conforming loan limits, which vary by county. In most Michigan counties for 2025, the conforming loan limit is $726,200 for a single-family home. If you need a mortgage above this threshold, it’s considered a jumbo loan.
Key differences from conventional loans:
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Jumbo loans are not backed by Fannie Mae or Freddie Mac.
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They usually have higher credit score requirements.
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Down payments are often larger
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Interest rates may be slightly higher, though competitive jumbo rates are often close to conventional loans.
Jumbo Mortgage Rates
Interest rates for jumbo loans can fluctuate depending on market conditions, lender policies, and borrower qualifications. While jumbo rates were traditionally higher than conventional rates, today many lenders offer competitive rates that are very close to conventional loans.
Jumbo mortgage rates vary based on market conditions and loan structure. We’d love to run the numbers for you and show how today’s jumbo loan rates compare with your other options.
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Or call us at: 616-465-5725
Finding the Best Jumbo Loan Lenders
When searching for the best jumbo loan lenders, consider the following:
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Experience: Look for mortgage brokers familiar with jumbo loans in Michigan (like us!) who can help find the best program for you.
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Transparency: A good lender clearly explains rates, fees, and eligibility requirements.
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Support: Jumbo loans are more complex, so responsive communication and expert guidance are critical.
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Reputation: Check reviews and ask for referrals to ensure the lender is trustworthy and reliable.
At JPAL Mortgage, we love jumbo loans and can guide you through every step, from prequalification to closing. Check out our Google reviews for real stories of our past clients.
How JPAL Mortgage Can Help With Jumbo Loans
We know jumbo loans can feel intimidating. That’s why we work directly with each client to identify the best loan options and connect them with competitive jumbo rates. Our team provides personalized guidance, helping you understand qualification requirements, down payment options, and the overall process. We coordinate with financial advisors, CPAs, real estate agents and attorneys when needed. With our expertise, securing a jumbo loan in Michigan becomes much simpler and more transparent.
Claim your FREE appraisal reimbursement from JPAL!
Simply fill out this form and when you finance a home with us, we’ll reimburse the cost of your appraisal (up to $600) at closing.** We’ll respond within 30 minutes of filling out the form.
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What Your Neighbors Say
“Jeremy helped us with the purchase of our very first home. He was extremely helpful throughout the entire process. He answered every question we had – big or small – as if it was the most important thing he could be doing in that moment. He made us feel very cared for and was extremely efficient at giving us updates along the way. Do not question your choice to work with Jeremy! We are so glad we did.” -Justine L.
★★★★★
“Adam Leavesley was referred to me by a trusted friend, and he came in clutch with the right advice and help to make getting approved, getting the loan and purchasing this home all possible in a very short period of time. During the whole process I felt comfortable and secure knowing that there was a great team helping my family out in a real time of need. That meant the world! Thanks to everyone at JPAL, Peace and Love.” -Brandon J.
★★★★★
“JPAL Mortgage was the most wonderful experience we have ever had in purchasing a home! They constantly kept us apprised of the progress in securing the loan and working a miracle in closing on our home in a 2 week time period. Jeremy Pins especially, was a joy to work with. Nothing was impossible for him to accomplish. Jeremy’s knowledge, experience, guidance, and advice on the direction we should consider in a very difficult financial climate was absolutely amazing! If/when we plan to purchase another property, JPAL will be the only company we will consider. We will recommend to anyone in the market to purchase property, JPAL are true ‘miracle workers’!” -Michael S.
★★★★★
“Adam is AMAZING! The “ old style” service was fantastic! Adam’s enthusiasm is infectious, and the genuineness is evident. Adam made our mortgage/finance experience incredibly easy and fast. Adam will help you every step of the process with extreme detail along with his expertise will ensure you will get the best results with someone you can trust, like Adam.” -Janae A.
★★★★★
JPAL Mortgage is proudly based in Michigan, where its two owners were born and raised! We love this state and have traveled it far and wide. It’s a passion of ours to help make a smooth landing here in Michigan! Learn more about the team at JPAL
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**All loans require complete underwriting approval, including satisfactory appraisal and clear title work. Interest rates and closing costs are subject to change. Appraisal reimbursement available for loans closed with JPAL Mortgage LLC and applied at closing. NMLS ID #2189752 | Equal Housing Opportunity.
FAQ: Jumbo Loans
Q1: What is the maximum loan amount for a jumbo mortgage in Michigan?
The maximum varies by county, but generally any loan above the $726,200 conforming limit is considered jumbo in 2025. Some lenders have their own internal caps.
Q2: Are jumbo loans more expensive than conventional loans?
They can be slightly higher in interest rate, but today’s jumbo rates are often very competitive with conventional loans.
Q3: Do I need a bigger down payment for a jumbo loan?
Yes. Down payments typically range from 10–20%, though requirements vary depending on your credit, income, and lender policies.
Q4: Can I get a jumbo loan with a lower credit score?
It’s possible. Strong financials and reserves may help if your score is lower.
Q5: How can JPAL Mortgage help me with a jumbo loan?
We provide personalized guidance, connect you with competitive rates, and help you navigate the stricter requirements of jumbo loans. Our goal is to make the process clear, simple, and stress-free.
All loans require complete underwriting approval, including satisfactory appraisal and clear title work. Interest rates and closing costs are subject to change. NMLS ID #2189752 | Equal Housing Opportunity