The jumbo loan options in St. Louis have continued to expand in 2025. Qualified buyers now have financing options unheard of just a few years ago. Any mortgage amount that exceeds the standard 2025 Conforming loan limits is considered a “jumbo” loan. The max conforming loan limit for St. Louis and all surrounding counties is currently $806,500.
High-balance jumbo loans have typically required a 20% down payment on average. Today, approved buyers can finance homes with only 5% down, depending on their loan amount. The exact down payment depends on many variables like the final loan amount, borrower’s credit profile, etc.
Below, we will run down the general lender requirements applicants should know before applying. If you have questions, please call the number below or just submit the Quick Contact Form on this page.
St. Louis Loan Amount – Credit Requirements:
- 95% Financing – Cap at $1,500,000 loan amounts. A minimum 700 credit score is required.
- 90% Financing – Cap at $3,000,000 loan amount (single-family homes) $2mil for condos. Min 720 credit when loan amount exceeds $2mil. 680 credit needed for loan amounts below $2 mil.
- 85% Financing – Cap at $3,500,000 + Lower credit scores down to 660 eligible when the loan amount is below $2m. Higher loan amounts will require 740 credit.
General Jumbo Financing Requirements:
- All the 5% down programs require the property (single-family home, town home, condo) to be a full-time owner-occupied and/or second home. Rental/investment home purchases start at 20% down payment.
- All the programs regardless of LTV require full income and asset documentation like standard conventional loans. This includes tax returns/W2, bank/asset statements, etc. *Special programs are available for self-employed buyers that allow income qualifying based on actual business deposits and bank statements.
- Borrowers will need to document payment “reserves” This is the amount of liquid or non-liquid savings left over after down payment and closing costs are paid. The total number of reserves will depend on credit, loan amount, down payment, etc. Generally speaking, borrowers financing loans below $1,000,000 should have 3 payment reserves. A higher loan amount exceeding $2 mil can require 6+ months.
- Eligible properties include regular single-family homes, town homes and select condominiums. Vacant land, lots, large acreage, farms, ranches or rehab homes are not permitted.
- The credit score requirements listed above for each program do not guarantee loan acceptance. All lenders and banks have additional requirements (waiting periods) related to borrowers with past financial hardship, regardless of credit score.
Additional St. Louis Programs For 2025:
VA Jumbo loans – eligible Veterans that require higher loan amounts. Learn more about VA Jumbo loans here.
Special Short Sale programs – borrowers with past short sales also have jumbo financing options with greater down payments. Please see the latest options on the Jumbo Purchase page.
Jumbo Refinance – all the requirements listed above also apply to homeowners looking to refinance (rate/term) their current loan. Homeowners also have cash-out refinance options available at lower loan-to-values. See all the Jumbo Refinance requirements.
Self Employed Buyers – Business owners having trouble qualifying for regular conventional loans will find the bank statement program of interest. This program allows buyers to qualify based on their actual business bank deposit average, rather than a two-year tax return history.
Contact us today to learn more about any of the options listed above. Serving Jefferson, Lincoln, St. Charles, Franklin County. Metro East – Bond, Calhoun, Clinton, Jersey, Macoupin, Madison, Monroe, and St. Clair
