What Makes a Jumbo Loan?
Any loan amount above $832,750 in Charlotte (Mecklenburg County) for 2026 requires jumbo financing. These loans are not backed by Fannie Mae or Freddie Mac — lenders hold them in portfolio or sell to private investors.
Jumbo Basics
- 680+ credit required (720+ for best rates)
- 10–20% down for primary residence
- 6–12 months reserves typically required
- DTI cap: 43–45%
- Rates have converged with conforming — often within 0.25–0.5%
