Jumbo loans are harder to qualify for and more expensive than conventional loans that have a loan limit of $417,000 (including FHA). The chart below shows the maximum sales price given some of the standard down payments. Closing costs are not considered below.
| % Down | Loan Limit | Max Price | Down Payment |
| 3.5% | $ 417,000.00 | $ 432,124.35 | $ 15,124.35 |
| 5.0% | $ 417,000.00 | $ 438,947.37 | $ 21,947.37 |
| 10.0% | $ 417,000.00 | $ 463,333.33 | $ 46,333.33 |
| 20.0% | $ 417,000.00 | $ 521,250.00 | $ 104,250.00 |
The rates I saw today had a .875% spread between a 30yr conventional loan and a jumbo loan up to $600,000 (4.875% v. 5.75). Payments based on that would be $2206.80 for a $417,000 loan versus $2433.50 for a $417,001 30yr jumbo. That extra $1 loan amount is an additional $226.70 per month for 360 months ($81,612)! Note that the FHA rate is higher than a conventional loan, not everyone qualifies for a given rate and there are other factors and costs in acquiring a loan.
