Jumbo ARM Loan
Looking at an adjustable rate on a loan above the conforming limit? At least one jumbo program we offer has 5/6, 7/6 and 10/6 ARMs up to $5,000,000, for primary homes, second homes and rental properties.
Quick answer
Saxton Mortgage does. At least one jumbo program we offer has 5/6, 7/6 and 10/6 ARMs up to $5,000,000, starting at a 660 credit score on loans up to $2,000,000. Investment properties go up to $3,000,000 with a 720 score. Appraisal waivers and temporary buydowns are not available.
What a jumbo ARM requires
After the initial fixed period, these jumbo loans adjust every six months using the SOFR index.
- A loan amount above the conforming loan limit, up to $5,000,000.
- A credit score of at least 660 on a purchase or rate and term refinance up to $2,000,000. Larger loans need higher scores, up to 740 at $5,000,000.
- A credit score for every borrower on the loan, and each one must meet the minimum.
- Adjustable second homes must be single-unit properties at one program*
- Assumable and convertible ARMs are not offered at one program*
- A loan that meets the Qualified Mortgage rules.
Three ARM options
740 credit opens ARMs at $5,000,000
Rental ARMs reach $3,000,000 on 720 credit
Cash-out to $3,000,000 needs a 740
Adjustable financing on up to four units
Qualified Mortgage loans
How Does A Jumbo ARM Work?
It is a jumbo loan with an adjustable rate. You choose a 5/6, 7/6 or 10/6 ARM and qualify under jumbo rules.
A jumbo ARM is a loan above the conforming loan limit with an adjustable rate. At least one jumbo program we offer has three versions: the 5/6, 7/6 and 10/6 ARM. Loans run up to $5,000,000 on a purchase or rate and term refinance, and cash-out refinances run up to $3,000,000.
On the 5/6, 7/6 and 10/6 conforming ARMs we offer, the rate changes every six months after the first change date, and we confirm the schedule on the jumbo ARM you pick. Qualifying also differs by ARM. On the 5/6, you qualify at a rate above your note rate, or at the fully indexed rate if that is higher. On the 7/6 and 10/6, you qualify at the higher of the fully indexed rate or the note rate.
Rental properties qualify too. At least one program allows an investment property up to $3,000,000 with a 720 score. Second homes must be one unit, and temporary buydowns are not available. If your loan fits under the conforming limit, see our adjustable rate mortgage page.
Why choose Saxton for a jumbo ARM
This page is for buyers and owners who need a loan above the conforming limit and want an adjustable rate.
Resets Every Six Months
Once the initial fixed period ends, one program adjusts the rate every six months using the 30-day average SOFR. A cap structure limits each change, and the rate floor can never sit below the margin.*
Up To $5,000,000
Purchases and rate and term refinances reach $5,000,000 with a 740 score.
660 Is The Floor
Scores from 660 work on loans up to $2,000,000 with at least one program.
Rentals Can Go Adjustable
At one program, an investment home can carry an adjustable jumbo loan. A 660 score covers a $2,000,000 balance, and the $3,000,000 rental tier calls for 720. Another program keeps rentals off its ARMs entirely.*
Cash-Out From A 680 Score
One program lets an adjustable cash-out refinance reach $2,000,000 on a 680 score, while $3,000,000 requires 740. Those tiers hold for owner-occupied homes, single-unit vacation properties and rentals.*
DU Or LPA Decides DTI
Fannie Mae’s DU or Freddie Mac’s LPA sets the debt-to-income limit, which cannot go above 50%.
Hear From Homeowners Like You
Frequently Asked Questions
Straight answers about jumbo adjustable-rate mortgages.
Saxton Mortgage does. At least one jumbo program we offer has 5/6, 7/6 and 10/6 ARMs up to $5,000,000, starting at a 660 credit score on loans up to $2,000,000. Investment properties go up to $3,000,000 with a 720 score. Appraisal waivers and temporary buydowns are not available.
A jumbo ARM is an adjustable-rate mortgage above the conforming limit, and one program will not write an ARM below $500,000. After the initial fixed period, the rate resets every six months from the 30-day average SOFR, within the program’s caps.*
A jumbo ARM can start at a 660 score at one program, on balances no higher than $2,000,000. Bigger loans need more: 700 at $3,000,000 on a primary home and 740 at $5,000,000. Each borrower on the file needs a FICO score at or above the minimum.*
Yes. One program writes adjustable jumbo loans on investment houses and small multifamily rentals, reaching $3,000,000 for a 720 borrower. Another restricts its ARMs to homes you occupy full or part time, so how you use the property points to the right program.*
Yes. One program permits adjustable cash-out refinances to a $3,000,000 ceiling for 740 borrowers, whether you occupy the home, use it as a getaway or rent it out. Texas 50(a)(6) equity loans are excluded there, so Texas owners need a different route.*
You qualify at a rate that can be higher than your starting rate. At one program the shortest fixed-period option uses the greater of the fully indexed rate or a cushion above the note rate, while longer fixed periods use the greater of the note rate or the fully indexed rate. DTI follows DU or LPA but cannot exceed 50%.*
Yes, a full appraisal. One program does not accept property inspection waivers or ACE on its jumbo ARMs. Another orders two appraisals for loans above $2,000,000 and rejects exterior-only reports.*
No, not on the jumbo ARMs we offer. One program says temporary buydowns are not available on its ARMs, and another lists them as ineligible. Where jumbo buydowns do exist in our programs, they apply only to fixed-rate purchases.*
Find out what you qualify for
Tell us the price, the loan amount and how long you plan to keep the home, and we will show you whether a jumbo ARM fits.
Get Pre-QualifiedLoan amounts, rates, terms, and eligibility are subject to credit approval, asset and income verification, appraisal, and program guidelines. Adjustable rates can increase after the initial fixed period. Program availability varies by state. Not all applicants will qualify. Saxton Mortgage, LLC is an Equal Housing Lender.