5 Best Jumbo Loans in Missouri


Jumbo mortgage loans give residents of Missouri access to financial products that can help with financing large home purchases.

Key Terms

  • Jumbo loans extend higher limits than conventional mortgages.
  • Borrowers who qualify for a jumbo loan do not always need large down payments.
  • Jumbo loans provide a unified way to finance a large purchase.

The “gateway to the West,” Missouri served as a key location for the U.S. as it expanded across the continent. For a long time, Missouri was the last bit of “big town” for a long stretch, making it a cultural and economic center in the 19th century. Today, it’s home to some great sports teams, unique tourist sites like the St. Louis Arch, and some beautiful communities like Kansas City, St. Charles and Monroe City. 

Whether you live in STL or more rural or suburban parts of Missouri, the truth is that it’s becoming increasingly difficult to finance a home as real estate prices rise and rise. According to the Missouri Association of Realtors, the average sales price of a home in Missouri is $289,511. While that number is well below the limits on conventional loans in Missouri, many homebuyers may find home prices in their region inching towards those limits. When it comes to new or bigger homes, it’s very easy to blow right past them. That’s where jumbo loans can help. 

For the most recent year, the HDMA data places Missouri 26th in the country in terms of mortgage origination activity, with a total of $3.33 billion in jumbo mortgages originated. Anyone considering a jumbo mortgage in Missouri will likely have some company, as more homebuyers turn to these convenient products. 

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What is the jumbo loan limit in Missouri?

The jumbo loan limit in Missouri for all counties is $647,200. Any loan that exceeds $647,200 is a jumbo loan in the state of Missouri. Any loan that is less than $647,200 is a conforming loan in the state of Missouri.

What are conforming loan limits?

Conforming loan limits are set by the Federal Housing Finance Agency (FHFA), the government agency which oversees Fannie Mae and Freddie Mac, the two home mortgage companies that buy most of the home loans made in the U.S. from mortgage lenders and resell them to private investors.

Missouri Jumbo Loan Limits (December 2022)

Missouri county-by-county jumbo loan, conforming loan and FHA loan limits.

Missouri
County
Missouri
Jumbo loan
(1-unit)
Missouri
Conforming
loan limit
(1-unit)
Missouri
FHA loan limit
(1-unit)
Adair$647,200+$647,200 $420,680
Andrew$647,200+$647,200 $420,680
Atchison$647,200+$647,200 $420,680
Audrain$647,200+$647,200 $420,680
Barry$647,200+$647,200 $420,680
Barton$647,200+$647,200 $420,680
Bates$647,200+$647,200 $431,250
Benton$647,200+$647,200 $420,680
Bollinger$647,200+$647,200 $420,680
Boone$647,200+$647,200 $420,680
Buchanan$647,200+$647,200 $420,680
Butler$647,200+$647,200 $420,680
Caldwell$647,200+$647,200 $431,250
Callaway$647,200+$647,200 $420,680
Camden$647,200+$647,200 $420,680
Cape Girardeau$647,200+$647,200 $420,680
Carroll$647,200+$647,200 $420,680
Carter$647,200+$647,200 $420,680
Cass$647,200+$647,200 $431,250
Cedar$647,200+$647,200 $420,680
Chariton$647,200+$647,200 $420,680
Christian$647,200+$647,200 $420,680
Clark$647,200+$647,200 $420,680
Clay$647,200+$647,200 $431,250
Clinton$647,200+$647,200 $431,250
Cole$647,200+$647,200 $420,680
Cooper$647,200+$647,200 $420,680
Crawford$647,200+$647,200 $420,680
Dade$647,200+$647,200 $420,680
Dallas$647,200+$647,200 $420,680
Daviess$647,200+$647,200 $420,680
De Kalb$647,200+$647,200 $420,680
Dent$647,200+$647,200 $420,680
Douglas$647,200+$647,200 $420,680
Dunklin$647,200+$647,200 $420,680
Franklin$647,200+$647,200 $420,680
Gasconade$647,200+$647,200 $420,680
Gentry$647,200+$647,200 $420,680
Greene$647,200+$647,200 $420,680
Grundy$647,200+$647,200 $420,680
Harrison$647,200+$647,200 $420,680
Henry$647,200+$647,200 $420,680
Hickory$647,200+$647,200 $420,680
Holt$647,200+$647,200 $420,680
Howard$647,200+$647,200 $420,680
Howell$647,200+$647,200 $420,680
Iron$647,200+$647,200 $420,680
Jackson$647,200+$647,200 $420,680
Jasper$647,200+$647,200 $420,680
Jefferson$647,200+$647,200 $420,680
Johnson$647,200+$647,200 $420,680
Knox$647,200+$647,200 $420,680
Laclede$647,200+$647,200 $431,250
Lafayette$647,200+$647,200 $420,680
Lawrence$647,200+$647,200 $420,680
Lewis$647,200+$647,200 $420,680
Lincoln$647,200+$647,200 $420,680
Linn$647,200+$647,200 $420,680
Livingston$647,200+$647,200 $420,680
Mcdonald$647,200+$647,200 $420,680
Macon$647,200+$647,200 $420,680
Madison$647,200+$647,200 $420,680
Maries$647,200+$647,200 $420,680
Marion$647,200+$647,200 $420,680
Mercer$647,200+$647,200 $420,680
Miller$647,200+$647,200 $420,680
Missouri$647,200+$647,200 $420,680
Moniteau$647,200+$647,200 $420,680
Monroe$647,200+$647,200 $420,680
Montgomery$647,200+$647,200 $420,680
Morgan$647,200+$647,200 $420,680
New Madrid$647,200+$647,200 $420,680
Newton$647,200+$647,200 $420,680
Nodaway$647,200+$647,200 $420,680
Oregon$647,200+$647,200 $420,680
Osage$647,200+$647,200 $420,680
Ozark$647,200+$647,200 $420,680
Pemiscot$647,200+$647,200 $420,680
Perry$647,200+$647,200 $420,680
Pettis$647,200+$647,200 $420,680
Phelps$647,200+$647,200 $420,680
Pike$647,200+$647,200 $420,680
Platte$647,200+$647,200 $431,250
Polk$647,200+$647,200 $420,680
Pulaski$647,200+$647,200 $420,680
Putnam$647,200+$647,200 $420,680
Ralls$647,200+$647,200 $420,680
Randolph$647,200+$647,200 $420,680
Ray$647,200+$647,200 $431,250
Reynolds$647,200+$647,200 $420,680
Ripley$647,200+$647,200 $420,680
St. Charles$647,200+$647,200 $420,680
St. Clair$647,200+$647,200 $420,680
Ste. Genevieve$647,200+$647,200 $420,680
St. Francois$647,200+$647,200 $420,680
St. Louis$647,200+$647,200 $420,680
Saline$647,200+$647,200 $420,680
Schuyler$647,200+$647,200 $420,680
Scotland$647,200+$647,200 $420,680
Scott$647,200+$647,200 $420,680
Shannon$647,200+$647,200 $420,680
Shelby$647,200+$647,200 $420,680
Stoddard$647,200+$647,200 $420,680
Stone$647,200+$647,200 $420,680
Sullivan$647,200+$647,200 $420,680
Taney$647,200+$647,200 $420,680
Texas$647,200+$647,200 $420,680
Vernon$647,200+$647,200 $420,680
Warren$647,200+$647,200 $420,680
Washington$647,200+$647,200 $420,680
Wayne$647,200+$647,200 $420,680
Webster$647,200+$647,200 $420,680
Worth$647,200+$647,200 $420,680
Wright$647,200+$647,200 $420,680
St. Louis City$647,200+$647,200 $420,680

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5 Top Missouri jumbo loan lenders

If you’re ready to learn more about the best jumbo mortgage lenders in Missouri, here are the top options we’ve found through our research.

1. Flagstar Bank

Flagstar Bank has a jumbo product in all 50 states, making it a popular choice among many people looking for higher mortgage amounts. If you’re considering a jumbo mortgage, you’ll want to compare Flagstar’s rates as part of your analysis.

We reached out to a loan officer at Flagstar Bank to get details on their jumbo loan rates. Here are the highlights:

  • Loan amounts up to $3 million on primary residences
  • Loan amounts up to $2.5 million on second homes
  • Purchase and rate/term refinance options available on primary residences and second homes
  • No prepayment penalties
  • First-time homebuyers permitted
  • No mortgage insurance options available
  • Cash-out options available on primary residence

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

2. SoFi

SoFi is a financial institution based in California that specializes in student loan refinance options, PLUS loans and flexible repayment terms. You might not know that they also offer jumbo loan mortgages.

We spoke to a loan officer at SoFi to discuss their jumbo home loans and this is what we learned:

  • Loan amounts up to $3 million
  • Down payments start at 10% and increase as the loan amount increases.
  • No PMI, regardless of your down payment amount, resulting in lower monthly payments.
  • 15-year or 30-year fixed rate products available

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

3. BMO Harris Bank

BMO Harris Bank is an established player in the mortgage industry that ranks 16th largest by total assets in the country. The bank offers a full range of financial products, including jumbo loans.

We spoke to a BMO Harris loan officer to get additional details about the jumbo mortgage rates, many of which aren’t published. Here are some key terms and highlights:

  • 10% down to $1 million (740+ credit score)
  • 15% down to $1.5 million (720+ credit score)
  • 20% down to $2 million (700+ credit score)
  • 25% down to $3 million (700+ credit score)
  • 30% down to $5 million (700+ credit score)
  • 45% down over $5 million (700+ credit score)
  • 30/20/15/10 year fixed
  • 5/6, 7/6, and 10/6 ARMs (adjustable-rate mortgages)
  • All 50 states
  • 12 months reserves

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

4. Huntington Bank

Huntington Bank is the 26th largest bank in the United States. Operating primarily out of the Midwest, their mortgage group can service a large part of the country. Huntington has a competitive jumbo loan product with no money down financing options.

We contacted a loan officer at Huntington Bank to gather information about their jumbo loan options and here’s what we heard back:

  • Loan amounts up to $2.5 million
  • Purchase and refinance available
  • Refinancing allows you to take up to $750,000 of equity out of your home.
  • Second homes are eligible
  • Multi-unit properties are eligible

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

5. Keybank

Keybank has over $170 billion in assets and is the 24th largest bank in the Untied States. They operate throughout 39 states but can originate mortgages in nearly all 50, making them a popular choice among homeowners throughout the country. One of their key financial products is a jumbo mortgage loan.

We contacted Keybank to learn more about their jumbo loan mortgage and here are the key terms and highlights:

SilverKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.

GoldKey Mortgage

  • Loan amounts up to $3.5 million
  • 10% down up to $1.5 million
  • Fixed or variable rates available
  • No private mortgage insurance required
  • Available for 1-to-4 unit properties, including single-family homes, condos or planned unit developments.
  • Available for second homes and investment properties.

Jumbo Interest-Only Mortgages

  • Loan amounts up to $3.5 million
  • 30% down on mortgages up to $1.5 million for primary residences
  • 35% down on mortgages up to $2 million for second homes
  • No private mortgage insurance required
  • ARM-only options

When you’re ready to connect with a loan officer experienced in jumbo mortgages, use our form to quickly match with jumbo loan programs based on your specific circumstances.

The benefits of a getting a jumbo loan in Missouri

The primary benefit of a jumbo loan is that this loan type lets you borrow more money than a conventional loan (like a FHA loan or VA loan)would— something you will certainly need to cover the cost of a property in many regions of the state these days. The alternatives can be overwhelming. To cover the costs of a more expensive property with a conventional loan, you might need to wipe out your savings to make a down payment or take out several mortgages to cover the total cost of the home. 

Is a Missouri jumbo loan a good fit for me?

A Missouri jumbo loan is an excellent option for you if you have a good or excellent credit score. Why do lenders have these high standards with these loans? This is because they carry higher risk for the lending institutions. If you have an average to poor credit score, a jumbo loan may not be a good fit. 

How competitive is the market in which you are trying to buy a home? In some markets, homebuyers need all the purchasing power they can get to be competitive. If you are in a very competitive space, a jumbo loan may be your best chance of getting the home of your dreams. While you may need to pay a higher interest rate, it can be well worth the extra bit of money spent.

If you’re looking to explore jumbo mortgage loans in other states, check out our national overview of jumbo loans as a starting point in your search.

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Joshua Holt

Joshua Holt is a licensed mortgage loan originator (NMLS #2306824) and founder of Biglaw Investor. His mortgage expertise lies in the areas of professional mortgage loans, particularly for lawyers, doctors and other high-income professionals. Prior to Biglaw Investor, Josh practiced private equity mergers & acquisition law for one of the largest law firms in the country.

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