Jumbo Loan Calculator
Calculate your jumbo loan payments, interest costs, and amortization schedule. Understand how loan amount, interest rate, and term affect your mortgage expenses.
Step 1: Loan Details
Understanding Jumbo Loans
Jumbo loans exceed conforming loan limits set by government agencies. They typically require stronger credit scores, lower debt-to-income ratios, and larger down payments.
Step 2: Additional Costs
About Jumbo Loan Requirements
Jumbo loans typically require a credit score of 700+, debt-to-income ratio below 43%, and significant cash reserves (6-12 months of payments). Rates are often slightly higher than conforming loans.
Loan Payment Results
Estimated Monthly Payment
Jumbo Loan Comparison
| Loan Type | Loan Amount | Interest Rate | Monthly Payment | Total Interest |
|---|
Payment Breakdown Analysis
Loan Payment Formula
M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]
The monthly payment is calculated using the standard loan payment formula where M = monthly payment, P = principal loan amount, i = monthly interest rate, and n = number of payments (loan term in months).
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