A technology-driven lender is launching a large loan program for buying luxury properties.
The Mortgage Calculator, an online mortgage brokerage, said it launched a comprehensive jumbo home loan program with financing up to $10 million for mortgages that exceed Federal Housing Finance Agency limits.
For 2025, the FHFA set the conforming loan limit values in most of the country for mortgages acquired by Fannie Mae and Freddie Mac for one-unit properties at $806,500. In high-cost areas, the limit is 150% of that number, or $1.20 million.
"The luxury real estate market demands a higher level of sophistication and flexibility in financing," Nicholas Hiersche, president of The Mortgage Calculator, said in a statement.
Beyond assisting high-earning borrowers, the non-qualified mortgages also offer options such as bank statement loans for self-employed borrowers and interest-only options. Down payments can be as low as 10% of the loan, according to the company.
The loans are available for primary residences, vacation homes and investments such as multi-unit rentals.
The 30-year, fixed-rate mortgage hit an average of 6.26% this week, the lowest point since October 2024, according to mortgage lender Freddie Mac.
The Federal Reserve cut its benchmark lending rate by 25 basis points on Wednesday, and two more reductions are expected this year.