Jumbo Loan Calculator
Estimate monthly payments on a jumbo mortgage. Enter loan amount, rate and term to see principal & interest, total PITI and total interest with the formula shown.
Updated 2026-06-14 · Free · No sign-up · Runs privately in your browser
Show the formula & steps
How the Jumbo Loan Calculator Works
A jumbo loan is a mortgage that exceeds the conforming loan limit and is too large to be backed by Fannie Mae or Freddie Mac. This calculator estimates your monthly principal and interest (P&I), your full PITI payment (with taxes and insurance), and the total interest you will pay over the life of the loan.
Enter the loan amount, the interest rate (APR), the term in years, and your estimated annual property taxes plus insurance. The result updates instantly.
The Formula
Jumbo loans use the same amortization formula as any fixed-rate mortgage:
Monthly P&I = P × r(1 + r)ⁿ ÷ ((1 + r)ⁿ − 1)
- P = loan amount (principal)
- r = monthly interest rate = APR ÷ 12 ÷ 100
- n = number of payments = term in years × 12
Your full housing payment, PITI, adds one-twelfth of your annual taxes and insurance to the P&I figure.
Worked Example
For a $900,000 jumbo loan at 7.1% APR over 30 years with $14,000 a year in taxes and insurance:
- Monthly rate r = 7.1% ÷ 12 = 0.5917%
- Payments n = 30 × 12 = 360
- Monthly P&I ≈ $6,047
- PITI = $6,047 + ($14,000 ÷ 12) ≈ $7,213 per month
- Total interest over 30 years ≈ $1,277,000
Conforming vs Jumbo Limits
| Property type | 2025 conforming limit (most areas) | Jumbo starts above |
|---|---|---|
| 1-unit home | $806,500 | $806,500 |
| 2-unit home | $1,032,650 | $1,032,650 |
| High-cost county (1-unit) | up to $1,209,750 | the local limit |
Limits change each year and are higher in high-cost counties such as parts of California, New York and Hawaii. Check your county’s current limit, because a loan that is jumbo in one area may be conforming in another.
Frequently asked questions
What is a jumbo loan?+
A jumbo loan is a mortgage that exceeds the conforming loan limit set by the Federal Housing Finance Agency, which is $806,500 for a single-family home in most U.S. counties in 2025 and higher in expensive markets. Because they cannot be sold to Fannie Mae or Freddie Mac, jumbo loans often have stricter credit, reserve and down-payment requirements.
How is a jumbo loan payment calculated?+
The monthly principal and interest payment uses the standard amortization formula: payment = P × r(1+r)^n ÷ ((1+r)^n − 1), where P is the loan amount, r is the monthly rate (APR ÷ 12) and n is the number of months (years × 12). Property taxes and insurance are added on top to get the full PITI payment.
Are jumbo loan interest rates higher?+
Jumbo rates are sometimes slightly higher than conforming rates because lenders keep the loans on their own books and take on more risk, but with strong credit and large reserves jumbo rates can be similar to or even below conforming rates. Always compare current quotes from several lenders.
How much down payment do I need for a jumbo loan?+
Many jumbo lenders require 10% to 20% down, and the largest loans may require 20% to 30% plus several months of cash reserves. A larger down payment lowers your loan amount, your monthly payment and the total interest you pay over the term.
Does this calculator include PMI?+
This calculator estimates principal, interest, and your annual taxes plus insurance (PITI). It does not add private mortgage insurance, which many jumbo loans avoid by requiring a larger down payment. If your lender charges PMI, add that monthly amount to the result.