Jumbo Mortgage Loans in Texas
Non conforming loans with a 680+ Credit Score!
Growing family? Nicer neighborhood? Buying your dream home? Get a Texas-sized jumbo loan from a trusted Texas lender at a low rate.
JUMBO Mortgage fixed rates AS LOW AS 5.95%1 (APR 6.239%)
Why choose a jumbo home loan from Credit Union of Texas?
Our lending team will help you find a jumbo loan that's a perfect fit for your budget and financial needs, with as little as 10% down. Because nice homes come in all sizes, just like our affordable mortgages.
- Designed for home loans that between $806,500 and $2.5 Million
- 90% Loan-to-Value (LTV) maximum, no Private Mortgage Insurance (PMI)
- Choice of loan terms, up to 30 years 1
- Low closing costs
- Personalized assistance from experienced lending professionals
Jumbo Mortgage Questions?
We can help.
Monday - Friday 9AM - 6PM
and Saturday 10AM - 2PM CT
Talk to a jumbo mortgage specialist
972-705-4845
Get a personalized consultation.
Jumbo Mortgage Benefits Include
Low Jumbo Mortgage Rates
Our rates are some of the most competitive available for North Texas properties, helping you save money over your loan's term.
Get Prequalified1
With one quick phone call, you can find out how much you can afford and get a conditional approval letter. That makes your house-hunting less complicated.
Apply Online
Our lending team will help you through the application process. Our digital tools allow you to handle most of your paperwork electronically.
Preferred Realtor Program2
Work with one of our preferred professionals and you'll get cash back to reduce your closing costs.
Move Up
When you're ready to upgrade your home, this enhanced mortgage is a smart decision. We're here to help you through the process.
North Texas Experts
We know the local market like nobody else, and we've been a trusted lender here since the 1930s.
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Financial CalculatorsJUMBO Mortgage RATES AS LOW AS 5.95%1
Current Jumbo Mortgage Rate Example
This table shows an example of a jumbo mortgage loan in Texas. Based on a $1,000,000 loan with a 90% loan-to-value (LTV), this chart outlines the interest rate, APR, discount points, and estimated monthly principal and interest payment.
| Current Jumbo Mortgage Rate Example | |
|---|---|
| Loan Amount | $1,000,000 |
| Loan-to-Value (LTV) | 90% |
| Interest Rate | 5.95% |
| Annual Percentage Rate (APR) | 6.239% |
| Discount Points | 1.25 |
| Loan Term | 360 Months (30 Years) |
| Principal & Interest Payment | $5,963.40 / month |
Jumbo Mortgage Loans FAQs
How large of a down payment do I need?
For our traditional mortgages, you'll need the standard 10% down payment (no PMI). But your situation might be different. To know for certain, it's best to connect with our mortgage lending team so we can help you find the right home loan for your situation.
What income do I need to apply for a mortgage?
A good rule of thumb is to have a mortgage payment that's no more than 28% of your income. Keep in mind, lenders also look at your debt-to-income ratio. If you add up your monthly debts—student loans, credit cards, auto loan payments, etc.—and divide them by your gross monthly income, you'll know your debt-to-income ratio. Most lenders look for a ratio of 36% or less. Use our calculators to see what kind of mortgage you might qualify for, or contact our mortgage lending team for more help.
What costs are associated with buying a home?
Along with the down payment and monthly payment, you have:
- Closing costs, which may be between 1% and 5% of the loan
- Property taxes
- Home insurance
- Mortgage insurance, when the down payment is less than 20%
Plus, as a homeowner, you’re responsible for upkeep and maintenance, so it’s a good idea to have extra money budgeted for those expenses.
What is the first step to getting a mortgage?
A conversation with one of our mortgage lending specialists will lead to you getting pre-qualified for a loan. Our mortgage lending team can find out what loan amount you may qualify for and help you pick the best type of loan for the home you hope to buy. They can also help you create a strategy for coming up with a down payment and getting your finances in order for buying a home.
What can I do to increase my chances of getting a mortgage?
The first step is getting a copy of your credit report. You might be surprised to know that many reports contain errors or old debts that have been paid but not cleared on the report. These errors can drag down your score, so it's important to get them fixed.
Check out our articles on strategies for budgeting and for coming up with a down payment. Improve your debt-to-income ratio by making extra payments to remove debts more quickly. Start a savings plan for a 20 percent down payment.
What are the advantages and disadvantages of a 30-year fixed mortgage?
For advantages, you'll typically have a lower payment option because your payments are spread out over many more years. They also give you the best tax advantage, since interest on home mortgages is often tax-deductible. The best benefit, however, comes with getting a 30-year mortgage* from a lender like CUTX that charges no pre-payment penalty. With a 30-year loan you are obligated to a small payment, but you have the option of paying extra on your premium when you have it. This pays the loan off more quickly, rapidly builds equity, and reduces your overall interest expense. This can help with the biggest disadvantage of a 30-year mortgage, which is the accrual of more interest than with shorter-term mortgages.
What are the advantages and disadvantages of a 15-year mortgage?
You can save thousands of dollars in interest, build equity quickly, and at the end of 15 years you’re virtually free from one of the biggest life expenses. Plus, you can often get a lower interest rate for 15-year mortgages3. On the other hand, that reduces your tax benefit if you’re eligible to deduct the interest from your mortgage. And 15-year mortgage payments are significantly more expensive every month—though not double.
Why CUTX?
I’ve been a member for almost 30 years, I can’t imagine banking anywhere else. You’re more than another account at CUTX, you’re a member, you’re a family.
Elsa H.
Friendly and attentive staff. Paydays come early and the fact that they care for the little guys is definitely my favorite thing about this bank. Definitely the go-to-spot if you’re interested in growing your financial reach.
Xavier H.
I always feel like I’ve been given the best advice for me and my family. They really do put their members first.
Sonya M.
We're Here To Help
Ready to apply?
Apply online now or get started if you need assistance with your application.
NMLS #576560 Credit Union of Texas provides mortgage loans through its affiliate Texas Mortgage Lending, LLC, NMLS #1641703. CUTX home loan programs are only available in Texas. Loans are subject to credit approval, CUTX's lending policies, and property approval. Prequalification is not a commitment to lend. Membership required.
1 A typical 30-year Jumbo $1,000,000 loan with a fixed rate of 5.95% (6.239% APR) would have 360 monthly principal and interest payments of $5,963.40. APR means Annual Percentage Rate. These payment examples are for illustrative purposes only and does not include amounts for taxes and insurance premiums. If applicable, the actual payment obligation will be greater. Rates and terms are subject to change without notice. The rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment and CUTX's lending policies.
2 The preferred realtor program is made available to you through a relationship between Credit Union of Texas (CUTX) and third party realtors. Program cash rebates are awarded by CUTX to buyers and sellers who select and use a real estate agent in the CUTX preferred realtor network, and are credited towards closing costs at close. Mortgage loan must be completed with Credit Union of Texas. Home buyers or sellers are not eligible for a cash rebate if they use an agent outside this network. Cash rebate amounts are dependent on the home sales price. Credit Union of Texas may have specific rules on how your cash rebate will be paid out. Cash rebate incentives are available in most states; however, are void where prohibited by law or by the lender. Please consult CUTX for details that may affect you.
3 A typical 15-year Jumbo $1,000,000 loan with a fixed rate of 5.95% (6.289% APR) would have 180 monthly principal and interest payments of $8,411.58. APR means Annual Percentage Rate. These payment examples are for illustrative purposes only and does not include amounts for taxes and insurance premiums. If applicable, the actual payment obligation will be greater. Rates and terms are subject to change without notice. The rate you may receive will depend on your individual circumstances, including your credit history, loan amount, down payment and CUTX's lending policies.