Jumbo Home Loans · Washington State
Washington's home prices
demand a lender who knows
how to handle them.
From Gig Harbor waterfront properties to Seattle and King County luxury homes, jumbo financing is a reality for a lot of Washington buyers. With loan amounts up to $3 million, as little as 10% down, and broker access to multiple jumbo lenders — let's make sure you're getting the best deal available.
John P. Cobain · NMLS #374881 · Edge Home Finance · Licensed in Washington State
10%
MIN DOWN PAYMENT
$3M
MAX LOAN AMOUNT
30+
YEARS EXPERIENCE
A Word From John
Jumbo loans aren't complicated. But they do require someone who knows what they're doing.
Here's the reality of the Washington State market right now: a lot of buyers who never thought of
themselves as "jumbo borrowers" are finding out they need one. Home prices in the greater
Tacoma area, Gig Harbor, Seattle, and throughout King County have pushed a significant portion of
the market above the conventional conforming loan limit. That's just where prices are.
What I bring to a jumbo transaction is 30 years of experience navigating complex scenarios — and
broker access to multiple jumbo lenders, which means I'm not locked into one bank's product or
one set of guidelines. I can shop your loan and find the combination of rate, terms, and structure
that actually fits your situation.
And the 10% down option matters. A lot of buyers assume jumbo loans require 20% down — that
was true for a long time, and some lenders still require it. We have access to programs that allow
as little as 10% down on jumbo loans, which keeps significantly more cash in your hands at
closing.
"Over the course of a five, ten, or thirty-year period, a quarter lower
in rate can save a client thousands of dollars over the life of the loan.
On a jumbo loan, that number gets a lot more significant."
— John P. Cobain, Loan Officer · Edge Home Finance
THE WASHINGTON STATE MARKET
Why jumbo lending matters here more than most
places.
Washington State — particularly the western side — has one of the more expensive real estate markets in the country. The conforming loan limit set by Fannie Mae and Freddie Mac gets updated periodically, but in high-cost markets like King County, even that elevated limit gets surpassed regularly. And in communities where waterfront properties, new construction, and established neighborhoods command premium prices, jumbo financing isn't the exception — it's the norm.
If you're buying in any of these markets, there's a real chance you'll need a jumbo loan — and an even better chance that the lender you choose will have a meaningful impact on your rate and your terms:
Washington communities where jumbo financing is commonly needed
These are markets where home prices frequently exceed conforming loan limits, making jumbo financing a routine part of
the transaction — not an exception.
Seattle
King County
Gig Harbor
Bellevue
Kirkland
Mercer Island
Tacoma
Bainbridge Island
Sammamish
Redmond
Issaquah
Snohomish County
THE BROKER DIFFERENCE
On a jumbo loan, where you shop matters even more than usual.
With a conventional loan, the difference between lenders is meaningful. On a jumbo loan, it can be significant. These are
larger loan amounts, and even a small difference in rate or terms compounds into real money over the life of the loan. Here's
why working with a broker matters at this level:
One application. Multiple jumbo lenders competing for your loan.
As a mortgage broker, I'm not tied to one bank's jumbo product. I work with multiple lenders who specialize in jumbo financing, which means I can find the most competitive rate and the structure that fits your specific profile.
Your bank can only offer what they have. I can offer what the market has.
0.25%
Lower rate example
On a $1.5 million jumbo loan, a quarter-point rate difference is roughly $200+ per month — over
$72,000 across a 30-year loan.
WHO I WORK WITH
Two types of jumbo buyers — both deserve the same level of care and expertise.
Move-Up Buyer
You've built equity — now
you're ready to use it.
You've owned a home for a while,
values have appreciated, and
you're ready for a property that fits
where you are in life now. The
transaction is more complex —
coordinating a sale, timing the
purchase, structuring the financing
— and that's exactly where three
decades of experience earns its
keep.
High-Income Professional
Your income is strong. The right loan structure should reflect that.
You're buying your primary home in a market that simply demands jumbo financing. You want a lender who can move efficiently, communicate clearly, and find you the best rate available — not someone who treats a large loan as a complicated problem to be managed.
Self-Employed Buyer
Your income is real. It just takes more documentation to show it.
Jumbo lenders scrutinize self-employed income carefully. I've navigated complex income documentation for 30 years. We'll put together a file that tells your story clearly and positions you as the strong borrower you are.
WHAT WE OFFER
A jumbo loan program built for Washington's
market.
As Little as 10% Down
Many buyers assume jumbo loans require 20% down. We have access to programs that allow as little as 10% — keeping more of your cash available at closing and beyond.
Loan Amounts to $3 Million
Whether you're financing a $900,000 Gig Harbor home or a $2.5 million property in King County, we have the capacity to handle it — with lender options at every price point.
Competitive Fixed and Adjustable Rates
We'll look at both fixed and ARM options depending on your timeline and goals. Sometimes an ARM makes a lot of sense on a jumbo — and sometimes it doesn't. We'll run the numbers both ways.
Multiple Lender Access
Broker access means your loan isn't limited to one institution's jumbo guidelines. We find the lender whose product fits your profile best — not the other way around.
Complex Income Welcome
Self-employed? Bonus-heavy compensation structure? Multiple income streams? I've spent 30 years working with complex income scenarios. We'll document your file correctly from the start.
Clear Communication Throughout
Jumbo transactions involve more moving parts. I keep both you and your realtor informed at every stage — no guessing, no black holes, no surprises at closing.
HOWIT WORKS
What to expect when we work on a jumbo loan
together.
Jumbo loans involve more scrutiny than conforming loans — that's just the nature of the product. But with good preparation and the right lender match, the process is straightforward. Here's how I approach it:
1. We start with your full financial picture
Income, assets, credit, and the property you're targeting. Jumbo lenders look at all of it carefully, so I want to understand your
situation completely before we approach any lender. That way we go in strong and prepared.
2. I identify the best lender match for your profile
Not all jumbo lenders are the same. Some are better for self-employed borrowers, some have better rates at certain loan
amounts, some have more flexible down payment requirements. I match you to the right one before we submit anything.
3. Application, credit review, and documentation
Jumbo loans require thorough documentation — tax returns, asset statements, employment verification. I'll tell you exactly
what's needed and why, so nothing comes as a surprise and we're not scrambling for documents at the last minute.
4. Underwriting and appraisal
Jumbo appraisals can be more involved than conventional, particularly on higher-value or unique properties. I'll set realistic
timeline expectations and stay in close contact with your realtor throughout so everyone is aligned.
5. Clear to close — and beyond
Once we're clear, I walk you through the closing disclosure so you understand every number before you sign. And after closing,
I'm still here — for future refinancing conversations, referrals, or anything else that comes up down the road.
COMMON QUESTIONS
What buyers ask me most about jumbo
loans
What makes a loan "jumbo" in Washington State?
A jumbo loan is any mortgage that exceeds the conforming loan limit set by Fannie Mae and Freddie
Mac. That limit is updated annually and varies by county — in high-cost counties like King County, the
limit is higher than the national baseline. If your loan amount exceeds the limit for your county,
you're in jumbo territory. I'll tell you exactly where the line falls for the property you're looking at.
Do I really only need 10% down on a jumbo loan?
Yes — we have access to jumbo programs that allow as little as 10% down. Not all lenders offer this,
and the specifics depend on your credit profile, loan amount, and the property. But if keeping more
cash available at closing is important to you, it's absolutely worth exploring. We'll look at whether
you qualify and what the tradeoffs look like compared to a larger down payment.
Are jumbo loan rates higher than conventional rates?
Historically yes, but the gap has narrowed considerably. In some cases, jumbo rates are actually
competitive with or better than conforming rates — it depends on the lender and market conditions.
This is another reason broker access matters: I can shop multiple lenders and find the most
competitive rate for your profile right now, not just in general.
I'm self-employed. Can I still qualify for a jumbo loan?
Yes, though it requires more documentation. Jumbo lenders typically want two years of tax returns,
business financials, and a clear picture of your income consistency. I've worked with self-employed
borrowers for 30 years — we know how to put together a file that tells your income story accurately
and positions you as the strong borrower you are.
Should I consider an ARM on a jumbo loan?
It depends on your timeline. If you're planning to sell or refinance within five to seven years, an
adjustable-rate mortgage can offer a meaningfully lower rate during that window. On a jumbo loan,
that difference adds up quickly. We'll run the fixed vs. ARM comparison with your actual numbers so
you can make an informed call.
Do you work with buyers throughout Washington State?
Yes — I'm licensed throughout Washington and work with buyers in the greater Tacoma and
Lakewood area, Gig Harbor, Seattle, King County, and across the state. Wherever the property is, if
you need jumbo financing in Washington, let's talk.
Ready to talk about your jumbo financing options?
Whether you're just starting to look or you have a property in mind, let's have a real conversation about what's available — and what makes the most sense for
your situation.
John P. Cobain · NMLS #374881 · Edge Home Finance · Washington State Licensed Mortgage Broker
Edge Home Finance · John P. Cobain · NMLS #374881 · This is not a commitment to lend. All loans subject to credit approval and underwriting. Jumbo loan programs subject to lender guidelines and eligibility requirements. Equal Housing Lender.
