In Pierce and King counties, a loan only counts as jumbo once it goes above $1,063,750, the 2026 conforming limit for our high-cost area. Lake Tapps waterfront homes, larger lots in Edgewood, and executive homes in Tehaleh cross that line regularly. Marc Hendrickson works these loans locally and will walk you through every number before you commit.
Your loan amount decides the category, not the price of the home. Because Pierce, King, and Snohomish counties are a high-cost area, there's a middle tier most buyers have never heard of: high-balance conforming. Those loans follow conforming guidelines even though they're above the national baseline, and they're often a better fit than a jumbo loan when you're close to the line.
Limits are FHFA's 2026 one-unit limits for Pierce and King counties. Most other Washington counties use the $832,750 baseline. FHFA sets new limits every year, usually announced in late November.
Sometimes a slightly larger down payment moves a loan from jumbo back into high-balance conforming. Marc will run both scenarios so you can see which one actually costs less over time.
When the loan you need goes past the conforming limit, a jumbo loan lets you finance the whole amount in one place instead of piecing it together.
A single jumbo loan can cover a higher purchase price without layering a second mortgage on top. That means one rate, one payment, and one closing.
Jumbo loans come in fixed-rate and adjustable-rate versions. An adjustable rate can make sense if you expect to sell or refinance within the fixed period. See how ARMs work.
The same program covers buying a home, refinancing an existing jumbo loan to a better rate or term, or pulling cash out of a high-value property. Refinance options.
Jumbo loans sit outside Fannie Mae and Freddie Mac guidelines, so each lender sets its own standards. These are common ranges, not hard rules. Marc can usually tell you where your file lands after one conversation.
Many jumbo programs look for scores around 700 or higher, with the best pricing reserved for stronger credit.
Commonly 10% to 20%, depending on the loan amount and the program. Larger loans often call for more down.
Many lenders cap total monthly debt at about 43% of gross income, with some room for strong files.
Expect to show several months of mortgage payments in savings or investments after closing, often 6 to 12 months on larger loans.
Higher loan amounts can require a more detailed appraisal, and some programs require two. Unique properties like waterfront homes need an appraiser who knows the local market.
Full income and asset documentation is standard. Self-employed borrowers may qualify through bank statement or asset-based programs instead.
Most South Sound homes fall under the conforming limit. The exceptions cluster in a few places, and they happen to be the neighborhoods Marc knows best.
Recent listings on Snag Island have run $2.0M to $4.0M, with Banker's Island and Fairweather Cove Estates around $1.6M. Waterfront purchases here are frequently jumbo.
Recent listings from about $875K to $1.37M. Depending on the down payment, loans here can land in any of the three tiers, so the conforming-versus-jumbo math is worth running.
Larger lots and small acreage give Edgewood some of the highest home values in the South Sound, and estate-scale listings often need jumbo financing.
Executive homes in the Glacier Pointe section have listed up to about $1.4M, above the high-balance limit for many buyers.
Listing figures are recent ranges from public listing data, not appraised values. Marc can pull current comparables for any property you're considering.
On a large loan, small details carry real weight: how the home appraises, how smoothly funding lands on closing day, and whether you have options when your income doesn't fit the standard mold.
Marc funds and closes loans directly, which lets him work with a local appraisal company. On a waterfront home with few true comparables, an appraiser who knows Lake Tapps values matters.
Funds go out to escrow early on closing day and files close without open funding conditions, so a large purchase doesn't stall waiting on someone else's queue.
If your income is hard to document on a tax return, Marc also offers bank statement and asset depletion loans that can be structured at higher loan amounts.
What is the jumbo loan limit in Pierce County?
$1,063,750 for a one-unit home in 2026. Loans above that amount are jumbo loans. Pierce, King, and Snohomish counties share this limit because they're a designated high-cost area. Most other Washington counties use the $832,750 national baseline.
What is a high-balance conforming loan?
It's a loan between $832,750 and $1,063,750 in a high-cost county like Pierce or King. It still follows conforming guidelines, so it often comes with more flexible terms than a jumbo loan.
Are jumbo rates higher than conforming rates?
Not always. Jumbo rates move on their own, and depending on the market and your credit profile they can land slightly above or even below conforming rates. It's worth comparing both before you decide.
How much do I need to put down on a jumbo loan?
Commonly 10% to 20%, depending on the program and the loan size. A larger down payment can also bring your loan under the high-balance limit, which is sometimes the less expensive route.
Can I use a jumbo loan for a second home or vacation property?
Many jumbo programs allow second homes, which comes up often with Lake Tapps waterfront purchases. Requirements are usually stricter than they are for a primary residence.
Can I refinance a jumbo loan?
Yes. Rate-and-term and cash-out refinances are both available on jumbo loans. If your balance has dropped below $1,063,750, refinancing into a high-balance conforming loan may also be an option.
Can self-employed borrowers get a jumbo loan?
Yes. Standard jumbo loans use full tax-return documentation, and Marc also offers bank statement and asset depletion programs for borrowers whose income doesn't show up neatly on a tax return.
How high can jumbo financing go?
Turn Two Mortgage offers jumbo financing up to about $2.5 million, which covers most of the waterfront and estate properties in our market.
Turn Two Mortgage is based in Lake Tapps, and Marc works with jumbo borrowers throughout Pierce and south King counties. See what buying and owning a home looks like in each community we serve.
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