Finance Homes Above $832,750
In Travis County, any mortgage above $832,750 is a jumbo loan. At Austin prices that isn’t a mansion — it’s a lot of ordinary purchases in Westlake, Tarrytown, Barton Creek, around Lake Travis, and a good share of new construction. Once you cross that line, the loan stops following one national rulebook and starts following whichever lender you end up with.
I’m Russell Stout. I’ve been an independent mortgage broker in Austin since 2002, and jumbo is where being a broker matters most: I put 40+ lenders in competition for your file, charge $0 lender fees, and you deal with me from pre-approval to closing — not a salesperson, then a processor, then an 800 number.
HAVE RUSSELL REVIEW MY SCENARIO (512) 423-4663
What Is a Jumbo Loan?
A jumbo loan is any mortgage larger than the conforming limit set each year for Fannie Mae and Freddie Mac. For 2026 in Travis County that limit is $832,750. Below it, your loan can be sold to Fannie or Freddie and has to follow their rules. Above it, it can’t — so the lender either keeps the loan on its own books or sells it to a private investor, and either way that lender writes the rules.
That’s the single most important thing to understand about jumbo financing, and it’s the reason the rest of this page exists.
Jumbo vs. Conforming — What Actually Changes
| Jumbo question | What typically changes above the limit |
|---|---|
| Who sets the rules | Each lender individually, instead of Fannie Mae and Freddie Mac |
| Down payment | Varies significantly by lender and loan size; some programs go lower than most buyers expect |
| Credit | Stronger profiles get more options; some investors work with lower scores on the right file |
| Reserves | Usually matter far more than on a conforming loan, and lenders differ on how many months and which assets count |
| Income documentation | W-2, self-employed, and alternative documentation all exist — but not at every lender |
| Property | Primary, second-home and investment options vary by investor; some won’t do all three |
| Maximum loan | Some programs stop in the low millions; others go considerably higher |
| Appraisal | Higher-value properties may require a second appraisal or a more detailed review |
I don’t publish minimum scores, maximum loan amounts or down-payment figures on this page on purpose. They change, and they change by lender. I’ll give you the real numbers for your scenario when we talk.
When Do You Need a Jumbo Loan in Austin?
More often than people think. Austin’s citywide median is well below the conforming limit, but the neighborhoods where a lot of my clients are buying aren’t:
- Westlake Hills, Rollingwood, Rob Roy, Lost Creek — addresses where most homes are above the limit
- Tarrytown, Pemberton Heights, Old Enfield — established central Austin, routinely into jumbo territory
- Barton Creek, Lake Travis, Lakeway, Bee Cave — the west side, where jumbo is the default
- New construction and custom builds across the metro
The important part isn’t the ZIP code. It’s that once the loan amount crosses $832,750, which lender you use changes the answer — and most buyers don’t find that out until an underwriter tells them.
Bank vs. Mortgage Broker for a Jumbo Loan
A bank offers you its own jumbo product. One set of guidelines, one underwriting team, one answer. If your file fits, great. If it doesn’t — because of reserves, or how your income is documented, or the property type — the answer is no, and you start over somewhere else.
As an independent broker I submit your loan to the jumbo lender whose guidelines actually fit it, from a bench of more than forty. The lenders compete for the file. You get the one that says yes on the best terms, and I charge $0 lender fees for doing it. On a jumbo loan, the difference between the right lender and the wrong one is not a rounding error.
Jumbo Loan Options for Self-Employed and Complex-Income Buyers
Austin’s economy runs on business owners, founders and consultants — which means a lot of jumbo buyers have strong cash flow and tax returns that don’t show it. Certain jumbo lenders will document income from bank statements, 1099s or assets instead of returns. That’s its own subject, and it gets its own page: Jumbo financing for bank-statement and complex-income borrowers. If your income is complicated, start there. If it isn’t, keep reading.
What to Have Ready Before Getting Jumbo Pre-Approved
A jumbo pre-approval letter carries weight with listing agents at this price point — but only if the lender behind it has actually looked at your file. Here’s what I need to give you a real one, not an estimate:
- Two years of tax returns (personal, plus business if you own 25 percent or more of a company)
- Recent pay stubs or, if self-employed, year-to-date profit and loss
- Two months of statements for every account you’ll use for down payment and reserves
- Statements for investment and retirement accounts — reserves matter on jumbo, and which assets count varies by lender
- The purchase price range you’re shopping and roughly how much you plan to put down
Pre-approval on a jumbo file usually takes me a day or two, because I’m matching the file to the right lender before I issue the letter — not after.
A Real Example
Reserves, not income
$1M+ jumbo refinance
The borrower’s income was never the issue. One bank’s reserve requirement was. Lenders differ on how many months of reserves they want and which assets count toward them. I placed the file with a lender whose reserve rules fit the borrower’s actual balance sheet, and it funded on the lock date. Details changed to keep it private.
Frequently Asked Questions
What is the jumbo loan limit in Austin, Texas?
For 2026 in Travis County, any loan above $832,750 is a jumbo loan. The limit is set annually for Fannie Mae and Freddie Mac and can differ by county, so a purchase in a neighboring county may have a different threshold. I check the current figure for your specific property.
How much do I need to put down on a jumbo loan?
It varies more than people expect — by lender, by loan amount, by credit profile and by property type. Some jumbo programs allow a smaller down payment than the old rule of thumb; others want more. I don’t publish a figure here because the honest answer depends on which lender fits your file, and that’s the first thing I sort out.
Why are reserves such a big deal on jumbo loans?
Because the lender is holding more risk on a loan it can’t sell to Fannie Mae or Freddie Mac. Reserves — the months of payments you could cover from assets after closing — are how it protects itself. Lenders differ on how many months they require and which assets count (retirement accounts, for example, are treated differently by different investors). A file that fails one lender’s reserve test can pass another’s without changing anything about the borrower.
Can I get a jumbo loan if I’m self-employed?
Yes. If your tax returns support the income, standard jumbo documentation works. If they don’t — because of write-offs or how the business is structured — certain lenders will document income from bank statements, 1099s or assets instead. That’s covered in full on the jumbo bank statement loans page.
Should I use a bank or a mortgage broker for a jumbo loan?
A bank offers one jumbo product with one set of guidelines. A broker submits your file to the lender whose guidelines fit it, from many. On a conforming loan that difference is smaller, because every lender follows the same Fannie/Freddie rules. On a jumbo loan every lender writes its own, so the choice of lender is the whole game — which is exactly what a broker is for.
Can I use a jumbo loan for a second home or investment property in Austin?
Yes, but not with every lender. Some jumbo investors only do primary residences; others handle second homes and investment properties with different reserve and down-payment requirements. Tell me the occupancy up front and I’ll match the file to a lender that actually does that kind of loan.
Does a jumbo loan require a second appraisal?
Sometimes. Above certain loan amounts or on unusual properties, a lender may require a second appraisal or an enhanced review of the first one. It’s lender-specific. I’ll tell you before you’re under contract whether the lender we’re targeting will need one, so it doesn’t surprise you in the timeline.
How long does a jumbo loan take to close in Austin?
Comparable to a conforming loan when the file is matched to the right lender from the start — roughly thirty days is typical. Jumbo closings run long when the file gets submitted to a lender that turns out to be a poor fit and has to be moved mid-process. That’s the thing I’m paid to prevent.
Ready to Finance Your Austin Home?
If you’re buying above $832,750, tell me the price range, how you’re paid, and roughly what you plan to put down. I’ll tell you which lenders are worth submitting to — before anyone runs your credit.
HAVE RUSSELL REVIEW MY SCENARIO (512) 423-4663
Texas Mortgage Consultants, PLLC | NMLS #1843758 | Russell Stout NMLS #220896 | Licensed by the Texas Department of Savings and Mortgage Lending | All loans subject to credit approval. Terms subject to change without notice. This is not a commitment to lend. Equal Housing Lender.
