Jumbo home loans today provide greater flexibility when compared to years past. In Delaware, the current 2025 conforming loan limit for Kent, New Castle, and Sussex County is $806,500. Any loan amount that exceeds this amount would be considered a “Jumbo” loan. Jumbo programs today offer many of the same benefits as conventional loans, in fact, many programs now permit up to 95% financing for approved home buyers. Below we will highlight all the key benefits and requirements.
Delaware Jumbo Loan Highlights:
- 95% financing – 5% down payment up to $1.6 mil loan amounts
- 90% financing – 10% down payment up to $2.5 mil loan amounts
- 85% financing – 15% down payment up to $3.0 mil loan amounts
- 80% financing – 20% down payment up to $3.5 mil loan amounts
- No PMI is required for all programs – even when the down payment is less than 20%
- Borrowers can choose from regular 30-year and 15-year fix terms, or adjustable rate 5/1, 7/1, and 10/1 terms. All programs are fully amortized loans. No “interest only” or negative amortization terms are permitted.
- Flexible single loan and two loan combo (80/10, 80/15) options available with very competitive interest rates
- Pre-approvals same day and closings in as little as two weeks
Delaware Jumbo Purchase Requirements:
Delaware Jumbo Purchase Requirements:- All the financing options above pertain only to primary owner-occupied homes or second homes.
- All programs require verified income & asset documentation from the borrower. Self-employed buyers do have special bank statement deposit programs available.
- Borrowers should have mortgage payment “reserves” after the down payment and closing costs. The amount of reserves (0-12 months) will vary depending on the loan amount size and credit profile of the applicants.
- 95% financing options require a min 700 credit score. 80-90% loan-to-value options require a 680 credit score. Credit scores alone do not guarantee loan approval, as there could be additional requirements for any buyers who have past financial hardships.
- Regular single-family, PUD, Condo, and Town homes permitted. New Construction to perm, Lot/build packages, acreage, and commercial properties are not permitted.
- Read more about all the lender requirements under the Jumbo Purchase Page. Veterans should also learn about special VA Jumbo financing options available.
Current homeowners also have a variety of rate-term and cash-out refinance options. Please check the Jumbo refinance page above to learn more.
Want to learn more? Please contact us 7 days a week at the number above, or just submit the Quick Contact form on this page. We are happy to assist all buyers in DE including – Newark, Wilmington, Dover, Rehoboth Beach, New Castle, Bethany Beach, Lewes
