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Jumbo Mortgage

Want a bigger home? We can help make it happen.

Why Choose a Power Financial Credit Union Jumbo Mortgage

Loan Amounts Over $766,550

A Jumbo Mortgage lets you borrow more so you can buy a bigger, more expensive home.

Borrow Up to 97% With No PMI

Provided you have good credit, you can borrow up to 97% of the appraised value of your home.

Choice of Loan Types and Terms

Choose from a fixed-rate or adjustable-rate mortgage with loan terms of up to 30 years.

Fast and Easy Approval Process

We've streamlined our home loan process so you'll get a fast answer with no hassle or stress.

Jumbo Mortgage Key Details

Maybe you need more room for your growing family. Maybe you want to live in a specific neighborhood – or even by the beach. A Jumbo Mortgage lets you borrow more so you can buy a higher-value home.

With competitive rates and special deals on closing costs, we can help make your big move happen.

  • Jumbo Mortgages are for loan amounts over $766,550
  • Borrow up to 97% of the appraised value of your new home
  • Down payments start at just 3%
  • Fixed-rate and adjustable-rate mortgages (ARM) available
  • Competitive interest rates and APR
  • Repayment terms of up to 30 years
  • Available for purchase and refinance
  • No prepayment penalty
  • Smooth and quick approval process
  • Secure and convenient payment options
  • We will pay the closing costs up to 2% of the loan amount*
  • All other closing costs may be incorporated into loan**
At Power Financial Credit Union, plus-sized mortgages are no problem. We're here to deliver your dream home – no matter how big.

Apply Now

Jumbo Mortgage Rates

Looking for competitive jumbo loan rates to finance your dream home? Our credit union is proud to offer some of the most competitive rates in the market. Check out the table below for our latest jumbo loan rates, which are updated regularly to help you make informed decisions. You can also use our free Mortgage Loan Calculator to estimate what your monthly payments will be and how long it will take to pay off your loan.


Jumbo Mortgages1

Jumbo Fixed Rate Mortgage Rate APR Points
15 Year 6.250% 6.356% 0.000
15 Year - No Closing Costs Up to 2% of Amount Financed* 6.500% 6.503% 0.000
20 Year 6.500% 6.586% 0.000
20 Year - No Closing Costs Up to 2% of Amount Financed* 6.750% 6.752% 0.000
30 Year 6.625% 6.691% 0.000
30 Year - No Closing Costs Up to 2% of Amount Financed* 6.875% 6.877% 0.000
Jumbo Adjustable Rate Mortgage Rate APR Points
3 yr./6 mo. ARM2 6.375% 6.903% 0.000
3 yr./6 mo. ARM2 _ No closing costs up to 2% of amount financed* 6.625% 6.904% 0.000
5 yr./6 mo. ARM2 6.500% 6.938% 0.000
5 yr./6 mo. ARM2 _ No closing costs up to 2% of amount financed* 6.750% 6.975% 0.000
5 yr./5 yr. ARM3 6.625% 6.691% 0.000
5 yr./5 yr. ARM3 _ No closing costs up to 2% of amount financed* 6.875% 6.877% 0.000
7 yr./6 mo. ARM2 6.625% 6.988% 0.000
7 yr./6 mo. ARM2 _ No closing costs up to 2% of amount financed* 6.875% 7.054% 0.000
10 yr./6 mo. ARM2 6.750% 6.981% 0.000
10 yr./6 mo. ARM2 _ No closing costs up to 2% of amount financed* 7.000% 7.084% 0.000

Applying for a Jumbo Mortgage is No Big Deal

Step 1

Apply Online

Use our simple online application portal to provide your personal and financial details.
Step 2

Get Pre-Approved

We'll offer you a loan amount and likely rate for your preferred mortgage type and term.
Step 3

Find Your Home!

With your financing ready, you can start looking for the home you need in the location you want!

"The service is and has always been excellent!! Friendly and professional staff!!"

– Sylvester B.

FAQs About Jumbo Mortgage Loans

Accordion Section

It's called a Jumbo Mortgage because it lets you borrow bigger amounts, over $766,550. This is the conforming loan limit set by the Federal Housing Finance Agency (FHFA), which regulates Fannie Mae and Freddie Mac. These organizations play a key role in the U.S. home mortgage system.

Even though a Jumbo Loan is above the conforming loan amount, it's still considered a conventional mortgage. A conventional mortgage means the agreement is between you and your lender. It's not a government-backed loan like a VA loan, FHA loan, or USDA loan.
Because you want to buy a home with a higher purchase price, we need to make sure you'll be able to comfortably afford your monthly mortgage payments for your entire loan term.  To qualify for a Jumbo Mortgage, lenders may require: higher credit scores than needed for smaller loan amounts – ideally a FICO score of 700 of higher


  • Higher levels of income
  • Higher cash reserves
  • Lower debt-to-income ratio
That said, we see our members as more than just a number so we'll work with you to try and make your dreams happen!
We offer a range of mortgage types and terms with our Jumbo Mortgages. You may choose:  
  • Adjustable-rate mortgages (ARM) with a variety of fixed and variable periods
  • Fixed-rate mortgages with terms of 15, 20, or 30 years
Note that a 30-year Jumbo Loan is popular because it lets you spread your larger loan amount over a longer loan period. See our Jumbo Loan Rates table for a complete list of mortgage types and terms available.
You may borrow up to 97% of the appraised value of your home, which means down payments start at 3%.
No, you don't need to pay PMI on a Jumbo Mortgage as long as your Loan-to-Value is under 80%. 
Yes, you do need to pay closing costs on a Jumbo Mortgage. The good news is that we will pay your closing costs up to 2% of your loan amount.*

Plus, you may be able to roll some or all of your remaining costs into your loan principal if you don't want to pay upfront.
Yes, to be eligible for our Jumbo Mortgages, you need to meet membership criteria for joining the credit union. It takes just a few minutes to join and then you can access a Jumbo Mortgage and all our other quality products and services.  

Our membership consists of those who live, work or go to school in Broward, Charlotte, Collier, Lee, Martin, Miami-Dade, Monroe, Palm Beach County, Hillsborough, Manatee, Pinellas, Sarasota, or St. Lucie counties.  

Immediate family of all current members are also eligible to join.

We're also proud to offer membership to our Select Employee Groups. Employees and members of these organizations are always welcome to join, no matter where they live:

Apply Today or Get in Touch for More Information

Learn More About the Market and Home Buying Process

Rising Home Prices and Your Home's Equity

In this article, we explain what rising home prices mean for homebuyers, and how you can weather shifts in your home’s equity.

Useful Tips for Becoming a Homeowner

Avoid common mistakes and ensure a secure future for your family by taking these simple steps to becoming a homeowner.

Power Financial Credit Union Home Buyer’s Guide

Your complete guide to a stress-free home buying experience. Download our free guide, today. 

Page Disclaimers

1Jumbo Mortgage Rates applicable for loan amounts greater than $766,550. This annual rate of interest example takes into account a 20% down payment for a Jumbo Mortgage Fixed Rate Loan of $766,550 at 30 years at 6.625%, you would make 360 payments of $4,908.30. Payment amount does not include taxes and insurance. Actual payment amount will be greater.

2Rate is variable with an initial rate adjustment cap of 2%, a subsequent rate adjustment cap of 1% and a lifetime maximum cap of 6%. Other restrictions may apply.

3Rate is variable with a periodic cap of 2 percentage points above the index every 5 years with a lifetime maximum cap of 5 percentage points above the original rate. Other restrictions may apply.
5 yr./5 yr. Adjustable Rate Mortgage of $766,550 at 30 years at 6.875%, you would make 60 fixed payments of $5,035.69 at 6.877% APR. After that, the fully indexed rate of 6.875% will apply to the remaining 300 payments and may vary every five years. Payment amount does not include taxes and insurance. Actual payment amount will be greater.

*Power Financial Credit Union will pay for all eligible closing costs, excluding rate buy downs/points and prepaid items, up to a maximum of 2% of the loan amount. This is a limited-time promotion. All purchase and refinance fixed rate mortgages secured by a primary residence are eligible. Investment properties or second homes do not qualify. Subject to a three year recapture fee. If the loan is paid off earlier than 36 months (3 years), the lender credit will be added to the payoff.

**Conditions and restrictions apply. See Credit Union for details.

Rates and offers are subject to change without notice.