Finance Homes Above $832,750
Austin has some of the most desirable neighborhoods in Texas — and in many of them, the conforming loan limit simply isn’t enough. Once your loan amount exceeds $832,750 in Travis County, you’re in jumbo territory. At Texas Mortgage Consultants, Russell Stout helps Austin buyers finance luxury and higher-priced homes with competitive jumbo loan rates, flexible programs, and $0 in lender fees.
What Is a Jumbo Loan?
A jumbo loan is any mortgage that exceeds the conforming loan limit set by Fannie Mae and Freddie Mac. In Travis County for 2026, that limit is $832,750. Any loan above that amount is considered jumbo — and it comes with different requirements and underwriting standards than a standard conventional loan.
Jumbo loans are not backed by Fannie Mae or Freddie Mac, which means lenders take on more risk. In exchange, they require stronger credit, larger down payments, and more financial reserves. But they’re also widely available, and for well-qualified borrowers in Austin, jumbo rates can be very competitive.
When Do You Need a Jumbo Loan in Austin?
Austin’s luxury real estate market is concentrated in several premium neighborhoods where jumbo financing is the norm rather than the exception:
- Westlake Hills — one of Austin’s most exclusive zip codes, with median prices well above $1M
- Barton Creek — golf course communities and private estates
- Tarrytown — established central Austin neighborhood, $900K–$2M+ range
- Lakeway and Bee Cave — Hill Country luxury with Lake Travis access
- West Lake Hills, Lost Creek, Rob Roy — prestigious addresses with homes routinely above $1M
With Austin’s median home price around $573,000, many buyers in the city’s premium zip codes need loan amounts in the $800K–$2M+ range — well into jumbo territory.
Jumbo Loan Requirements in Austin
Jumbo loans require stronger qualifications than conforming loans. Here’s what most lenders look for:
- Credit score: Typically 700–720 minimum; 740+ for the best rates
- Down payment: Usually 10–20%, depending on loan amount and lender
- Debt-to-income ratio (DTI): Most jumbo lenders cap DTI at 43–45%
- Cash reserves: Many lenders require 6–12 months of mortgage payments in reserve after closing
- Income documentation: Two years of tax returns, W-2s or 1099s, recent pay stubs
These are general guidelines — requirements vary by lender and loan amount. Russell shops your scenario across 40+ wholesale lenders to find programs that match your specific situation.
Jumbo Loan Options — Including for Self-Employed Buyers
Austin’s economy runs on technology, entrepreneurship, and small business ownership — which means a significant portion of high-income buyers are self-employed. Traditional income documentation can be a challenge when your taxable income looks lower than your actual cash flow.
Russell works with lenders that offer bank statement loans for self-employed buyers: instead of tax returns, the lender averages 12–24 months of personal or business bank deposits to calculate qualifying income. This is particularly useful for:
- Tech founders and startup executives
- Real estate investors with significant deductions
- Business owners whose Schedule C shows lower net income than actual cash flow
- Freelancers and consultants with variable income
Bank statement jumbo loans typically require a slightly higher down payment and carry a marginally higher rate — but for buyers who can’t qualify using traditional documentation, they’re an excellent option.
Why Use an Independent Broker for Your Jumbo Loan
Jumbo loans are where working with an independent broker pays off most. A bank can only offer its own jumbo product — one set of guidelines, one rate, one underwriting team. Russell, as an independent broker, submits your loan to competing wholesale jumbo lenders and comes back with the best offer.
Jumbo loan programs vary significantly in what they allow: some cap at $1.5M, others go to $3M or $5M. Some require 20% down; others approve 10% down on the right borrower profile. Some have more flexible DTI; others are stricter on reserves. Having access to multiple programs isn’t just convenient — it can be the difference between qualifying or not.
And since Russell charges $0 in lender fees, the savings on a jumbo loan can be substantial. On a $1.2M loan, lender origination fees at a typical bank can run $5,000–$12,000. With Russell, those fees are eliminated entirely.
Ready to Finance Your Austin Home?
If you’re buying in one of Austin’s premium neighborhoods or financing a loan above $832,750, reach out to Russell today. He’ll tell you exactly which programs you qualify for, what your rate would look like, and what you need to bring to the table — before you’re under contract and on the clock.
Call or text: 512-423-4663
Email: rstout@texasmortgageconsultants.com
Or start your jumbo pre-approval online →
