Shopping for a home in Bellevue? With prices across the Eastside, your mortgage might cross into jumbo territory faster than you expect. If you are weighing condos downtown or single‑family homes in West Bellevue, Medina, or Clyde Hill, understanding jumbo limits can save time and help you write a stronger offer. In this guide, you will learn how to check whether your purchase requires a jumbo loan, what changes with jumbo financing, and how to prepare for early‑spring buying. Let’s dive in.
Jumbo loans in plain English
A conforming loan meets Fannie Mae or Freddie Mac size rules and underwriting standards. A jumbo (non‑conforming) loan exceeds the county’s conforming loan limit for the property type, so lenders price and underwrite it differently.
Limits change each year. As of November 2025, you can verify the current conforming loan limits using the Federal Housing Finance Agency’s conforming limit lookup and announcements. For confirmation, you can also check guidance from Fannie Mae and Freddie Mac.
- Check the latest limit on the FHFA’s conforming loan limits page. Use the FHFA tool and announcements to confirm your county limit.
- See agency confirmations at Fannie Mae’s conforming loan limits page and Freddie Mac’s loan limits page.
How to know if your Bellevue purchase is jumbo
Use this quick check before you write an offer:
Find the current limit. Look up King County’s conforming loan limit for your property type (1‑unit, 2‑unit, etc.) on the FHFA page noted above.
Do the math. Required mortgage = Purchase price − Down payment (consider any second lien you plan to use).
Compare. If your required mortgage is greater than the conforming limit for your property type, your first mortgage is a jumbo.
Tip: Limits are higher for 2‑, 3‑, and 4‑unit properties. Condo purchases can also include extra project reviews that affect timing, even if the loan size is conforming.
Quick examples (illustrative)
These scenarios show how the math works. Always verify the current year’s limit before you decide.
- $1,000,000 purchase with 20% down → required loan = $800,000. This is conforming if $800,000 is at or under the current 1‑unit limit; jumbo if above.
- $1,000,000 purchase with 10% down → required loan = $900,000. This is jumbo if $900,000 exceeds the current 1‑unit limit.
- $1,200,000 duplex with 20% down → required loan = $960,000. Compare to the 2‑unit limit for King County to determine whether it is conforming or jumbo.
Bellevue and Eastside context
Bellevue, Medina, Clyde Hill, and parts of Kirkland, Sammamish, and Redmond often see prices above typical conforming thresholds. That means many buyers will either use jumbo financing or structure a second mortgage to keep the first lien under the limit. In higher‑price segments, expect careful appraisal reviews and the possibility of longer underwriting timelines. For historical values and property tax context, you can review data from the King County Assessor.
Conforming vs. jumbo: what changes
Interest rates
Jumbo rates often carry a small premium compared to conforming loans. The spread can tighten or widen with market conditions. Well‑qualified borrowers sometimes see jumbo rates that are comparable to conforming, depending on the lender’s appetite for jumbo lending.
Down payment and equity
- Conforming loans offer options as low as 3% to 5% down. Private mortgage insurance applies if you put less than 20% down.
- Jumbo loans commonly require 10% to 20% down or more. The most competitive pricing often starts at 20% down. Standard PMI does not typically apply to jumbos; lenders may require higher down payments, a second lien, or added reserves instead.
Credit score and DTI
- Jumbos usually expect stronger credit (often 700 to 740+ for most favorable pricing). Lower scores are possible but raise costs or documentation needs.
- Debt‑to‑income limits for jumbos can be stricter than conforming or may require compensating factors.
Cash reserves and documentation
Lenders often require more reserves for jumbo loans, for example 6 to 12 months of housing payments, especially for larger balances or investment properties. Documentation remains rigorous: full tax returns, pay stubs, bank and investment statements, and explanations for large deposits. Specialty jumbo products exist, but they typically cost more.
Underwriting and timelines
Because jumbos are not sold into standard agency pipelines, underwriting can involve more manual review. In normal conditions, conforming purchases can close in about 30 days with complete documents. Jumbos often take 30 to 45+ days, depending on lender capacity, appraisal complexity, and documentation.
Appraisals and valuations
High‑value and unique properties may require deeper appraisal analysis or even multiple valuations. In competitive Eastside segments, be ready to address appraisal gaps with extra cash or plan for renegotiation if needed.
Loan program availability
- Conforming offers broad product variety (fixed, ARMs, and low‑down programs tied to Fannie/Freddie rules).
- Jumbo programs vary by lender. Options include bank‑portfolio loans, private bank lending, and niche products (for example, asset‑depletion or bank‑statement programs). Each has its own rules for credit, assets, and documentation.
Strategies to stay competitive this spring
Get fully pre‑approved with a jumbo‑savvy lender
Ask the lender to confirm the timeline, required reserves, and exact documentation. A strong pre‑approval helps you move quickly and signals strength to the seller. For general mortgage shopping guidance, review the CFPB’s Owning a Home resources.
Bring these items together early:
- Two years of tax returns and W‑2s or 1099s
- Recent pay stubs
- 60 to 90 days of bank and investment statements
- Explanations for large deposits
- Gift letters if using family funds
Ways to avoid a jumbo (if that is your goal)
- Increase your down payment to bring the first‑lien amount at or below the conforming limit.
- Use a second mortgage (often called an 80/10/10) to keep the first lien under the limit. Confirm how the combined payment affects your debt‑to‑income ratio.
- Target properties priced so that your required loan fits within the current limit for your property type.
Build a strong offer in high‑price segments
- If jumbo timelines are longer, consider a larger earnest money deposit or shorter, well‑considered inspection timelines to balance your offer strength and risk tolerance.
- Discuss a plan for potential appraisal gaps in your budget, especially for unique homes or fast‑moving price points.
Rate locks and float options
Jumbo lock policies vary. Confirm your lock window, fees, and any float‑down features. In a rising‑rate environment, a longer lock can add cost but protect your payment.
Questions to ask your lender
Use this short list when you compare lenders:
- What are the current jumbo and conforming rates for my credit profile and loan type?
- What is the minimum down payment and reserve requirement for my target purchase price?
- What is your typical underwriting and closing timeline for a jumbo right now?
- How will you handle the appraisal for my property type and neighborhood? Will you require a second appraisal?
- What are my options if the appraisal comes in low?
Next steps for Bellevue and Eastside buyers
- Verify the current conforming loan limit for King County using the FHFA page, and note whether your property type changes the limit.
- Run the quick math to see if your target homes likely require a jumbo.
- Get a full pre‑approval from a lender with jumbo experience and confirm the timeline.
- Prepare documents and reserves early so you can move fast when the right home hits the market.
- Align on offer strategy, appraisal planning, and rate lock choices before you tour.
Ready to talk strategy for Bellevue and the Eastside? Leilani + Cameron Luxury Group pairs boutique, high‑touch guidance with market expertise across suburban single‑family homes and downtown condos. If you are planning to buy or sell next, we are here to help you prepare a clear plan and move with confidence.
FAQs
What is a jumbo loan in King County?
- A jumbo loan is any first mortgage that exceeds the current King County conforming loan limit for the specific property type. Check the FHFA page to confirm the latest limit before you shop.
How do I find today’s conforming loan limit?
- Use the FHFA’s conforming loan limits tool and announcements for the current year. You can also confirm on Fannie Mae and Freddie Mac loan limit pages.
Do jumbo loans always have higher rates than conforming?
- Not always. Jumbos often carry a small premium, but well‑qualified borrowers can sometimes get rates close to conforming, depending on market conditions and lender appetite.
How much down payment do I need for a jumbo in Bellevue?
- Many lenders look for 10% to 20% down, with the most competitive pricing often starting at 20% down. Requirements vary by lender and borrower profile.
Can I avoid a jumbo loan on an Eastside home?
- Yes. Increase your down payment, use a second mortgage to keep the first lien under the limit, or adjust your target price so the required loan fits within the conforming limit.
Do condos or multi‑unit properties change the limit?
- Yes. Conforming limits are higher for 2‑, 3‑, and 4‑unit properties. Condos can also require added project reviews that affect approval and timing.
