Best Jumbo Lenders in Virginia 2026: Top 7 for $1M+ Homes
Patricia Wilson
Virginia Jumbo Loan Expert | 18+ Years Experience
January 22, 2026
Looking for the best jumbo lenders in Virginia? Virginia's luxury market is booming, especially in Northern VA. These 7 lenders offer the best rates and terms for $1M-$5M+ homes.
6.75%
Avg Jumbo Rate
$1.5M
Avg Jumbo Loan
15%
Min Down
$5M
Max Loan
🏆 Top 7 Jumbo Lenders Virginia 2026
Chase Private Client - Best Jumbo Lender Virginia
2,800+ VA jumbo loans
Why #1:
- 💰 Best jumbo rates: 6.65%-6.85% APR
- 🏆 Up to $5M loans
- ⚡ 10% down minimum
- 📍 Strong in Northern VA luxury market
- 🎯 Relationship banking perks
Best For:
High-net-worth Virginia buyers purchasing $1M-$5M homes
📊 Virginia Jumbo Loan Markets 2026
| Market | Median Luxury Home | Jumbo Threshold |
|---|---|---|
| Arlington/Alexandria | $1.8M | $766,550+ |
| Fairfax County | $1.5M | $766,550+ |
| Richmond | $950K | $766,550+ |
| Virginia Beach | $850K | $766,550+ |
✅ Virginia Jumbo Loan Requirements 2026
Borrower Requirements
Credit Score:
700+ required (740+ for best rates)
Down Payment:
10-20% ($150K-$300K on $1.5M)
DTI Ratio:
43% max (36% preferred)
Reserves:
12-24 months PITI required
Income Requirements
$1M Loan:
$250K+ annual income
$1.5M Loan:
$375K+ annual income
$2M Loan:
$500K+ annual income
Documentation:
2 years tax returns + W-2s/1099s
🏘️ Best Virginia Markets for Jumbo Loans
Northern Virginia
Why #1 for Jumbo:
- Highest home values in VA
- Median luxury: $1.5M-$2M
- Strong job market (DC metro)
- Top schools + amenities
Richmond
Why #2:
- Growing luxury market
- Median luxury: $900K-$1.2M
- Lower cost than NoVA
- Historic charm + modern amenities
❓ FAQ: Virginia Jumbo Loans 2026
What is a jumbo loan in Virginia?
A jumbo loan exceeds conforming loan limits:
- Virginia 2026 limit: $766,550
- Jumbo loan: Any loan above $766,550
- Example: $1M home = $233,450 jumbo portion
Why it matters: Jumbo loans have stricter requirements but competitive rates.
How much down payment for jumbo loan in Virginia?
Virginia Jumbo Down Payment Requirements:
- Minimum: 10% ($150K on $1.5M)
- Recommended: 20% ($300K on $1.5M)
- Best rates: 25%+ down
Why 20%+ is better:
- Lower interest rates (0.25%-0.50%)
- No PMI required
- Easier approval
What credit score for jumbo loan in Virginia?
Virginia Jumbo Credit Score Requirements:
- Minimum: 700 (approval possible)
- Good: 720-739 (competitive rates)
- Excellent: 740+ (best rates)
Impact on rates:
- 700-719: 7.00%-7.25% APR
- 720-739: 6.75%-7.00% APR
- 740+: 6.65%-6.85% APR