Q: Can you get a jumbo loan with 10% down?
A: Yes. Some lenders in Washington offer jumbo loans with as little as 10% down. These programs require strong credit, stable income, and often larger cash reserves, but they allow buyers to purchase high-value homes sooner without saving 20%.
10% Down Jumbo Home Loans in Washington State
In Washington’s high-value housing markets—such as Seattle, Bellevue, and across King County—jumbo loans are often required. Many buyers assume jumbo financing always demands a 20% down payment, but some programs allow you to purchase with just 10% down. This option makes luxury or waterfront homes more attainable without waiting years to save double the cash.
What Is a 10% Down Jumbo Loan?
A 10% down jumbo loan allows qualified buyers to finance a property that exceeds conforming limits while contributing half of the traditional 20% down. The remaining 90% is financed as a jumbo mortgage. While private mortgage insurance (PMI) may apply depending on program, many jumbo lenders use stricter standards in exchange for offering lower down payment options.
Benefits of 10% Down Jumbo Loans
- Faster entry into luxury markets — Buy sooner without saving 20%.
- Liquidity protection — Keep more cash for reserves, remodels, or investments.
- Strong offer presence — Still competitive in markets like Seattle.
Considerations
These loans often come with tighter credit standards, lower debt-to-income requirements, and larger reserve needs. Interest rates or PMI costs may be slightly higher compared to larger down payment paths.