4 Best Jumbo Loans in Nevada


Jumbo mortgage loans in Nevada provide a way to finance a home with a single mortgage.

Key Terms

  • Jumbo home loans in Nevada come with higher limits than conventional mortgages.
  • Borrowers often need much less money down with these loans using the lenders we’ve found.
  • Borrowers can finance a larger or more expensive property with one loan instead of taking out several mortgages.

You can’t necessarily be faulted for thinking starts and ends in Las Vegas. The truth is, however, that this state has much more to offer. From pleasant suburbs to the unique geological features of Red Rock, Nevada has something for everyone, in addition to the fun and entertainment of Vegas and Carson City. 

No matter what you like or where you live in Nevada, however, you are likely dealing with one thing: the rising home prices in a competitive real estate market. According to the Nevada Association of Realtors, the median sales price of a home in Nevada is $748,579— a number that is above the conforming limits on conventional loans. For this reason, more and more Nevadans are turning to jumbo loans to become homeowners. 

For the most recent year, the HDMA data places Nevada 25th in the country in terms of mortgage origination activity, with a total of $5.13 billion in jumbo mortgages originated. If you’re looking for a jumbo mortgage in Nevada, you’ll be among good company.

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What is the jumbo loan limit in Nevada?

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

Nevada Jumbo Loan Limits (October 2022)

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

Nevada
County
Nevada
Jumbo loan
(1-unit)
Nevada
Conforming
loan limit
(1-unit)
Nevada
FHA loan limit
(1-unit)
Churchill$647,200+$647,200 $420,680
Clark$647,200+$647,200 $420,680
Douglas$647,200+$647,200 $569,250
Elko$647,200+$647,200 $420,680
Esmeralda$647,200+$647,200 $420,680
Eureka$647,200+$647,200 $420,680
Humboldt$647,200+$647,200 $420,680
Lander$647,200+$647,200 $420,680
Lincoln$647,200+$647,200 $420,680
Lyon$647,200+$647,200 $420,680
Mineral$647,200+$647,200 $420,680
Nye$647,200+$647,200 $420,680
Pershing$647,200+$647,200 $420,680
Storey$647,200+$647,200 $534,750
Washoe$647,200+$647,200 $534,750
White Pine$647,200+$647,200 $420,680
Carson City$647,200+$647,200 $448,500

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4 Top Nevada jumbo loan lenders

If you’re ready to look over the best jumbo loan lenders in Nevada, here are some options to consider.

1. 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 loan mortgage 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.
  • 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.

2. BMO Harris Bank

BMO Harris Bank is an established mortgage lender in the 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 their 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 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.

3. Keybank

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

We contacted Keybank to learn more about their jumbo loan rates 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.

4. 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 mortgage. 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.

How jumbo loans in Nevada are different

Homebuyers in Nevada face two issues: they must take out multiple mortgages or else put a tremendous amount of money down upfront. That is because conforming limits prevent lenders from making out conventional loans that go over $647,200.

Federal Housing Finance Agency (FHFA), which oversees Fannie Mae and Freddie Mac (the two government-sponsored home loan entities that buy most of the home mortgages made in the U.S. from lenders and resell them to private investors) sets the conforming loan limits.

A jumbo loan has a much higher limit. Thanks to these “non-conforming” mortgages, Nevadans can finance a home purchase with a single financial product. This provides them with a much cleaner and easier way to buy a home in a state where average prices are currently over 700k.

The pros and cons of a jumbo loan in Nevada

Of course, before you move ahead with any financial arrangement, you will always want to look at pros and cons. The pros with jumbo loans are obvious: you get more spending power in an expensive market with just a single loan. That significant advantage does come at a price, however. 

For one, you need to have a good credit score and a low debt-to-income ratio to qualify for a jumbo loan. A dinged credit profile may work with some government-back mortgages, but it won’t pass muster with jumbo loan lenders. Jumbo loans also cost you more in the form of a higher interest rate. If that is something you are comfortable with given what you get in return, a jumbo loan in Nevada may be just what you need. 

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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