Conventional Jumbo loan A conventional jumbo loan is also known as a non-conforming loan because it does not conform to government, Fannie Mae or Freddie Mac standards or exceeds their maximum loan limits. Instead, each lender sets their own jumbo loan standards—most use Fannie Mae and Freddie Mac guidelines and then diverge from there. Jumbo loans have a minimum down payment of 5% and a maximum loan amount of $650,000. Jumbo loans typically have a higher interest rate because the banks set the guidelines, not government agencies. However, they allow you to have a greater amount of debt and let you use more of you monthly income toward your home. My mortgage calculator allows you to choose from these conventional jumbo loans: 30-year fixed 1 year ARM 3/1 ARM 7/1 ARM