Jumbo Guide
Can I Qualify for a Jumbo Loan With 10% Down?
Yes — on select primary-residence programs with strong credit and reserves. Here is when 90% LTV works for Indiana jumbo buyers, and when 15–20% is the smarter path.
When 10% Down Works
Ten percent down (90% LTV) is not universal jumbo policy — it is an investor overlay. Programs that allow it usually want a primary residence, mid-720+ credit, deep asset documentation, and healthy post-close reserves.
If your credit sits closer to 700, or the property is a condo, second home, or unique appraisal, expect investors to push toward 15–20% down instead. We shop your file across jumbo investors so you know what is realistic before you write an offer.
LTV maximums vary by investor and are subject to change.
90% LTV Snapshot
What Strengthens a 10% Down File
Jumbo underwriters look past the down payment number — they want proof you can handle a large payment after closing.
10% vs. 15–20% — How We Decide
Lower down payment preserves cash — but on jumbo balances, rate and reserve tradeoffs can outweigh the savings.
| Scenario | 10% Down | 20% Down |
|---|---|---|
| Cash at closing | Lower | Higher |
| Typical pricing | Premium vs. 80% LTV | More competitive |
| Reserve pressure | Often stricter | Often lighter |
| Investor options | Fewer programs | Wider menu |
We help you choose by modeling:
- •Monthly payment difference between 10% and 20% down
- •Reserve gap after each down payment scenario
- •Which investors currently allow 90% LTV on your profile
- •Whether keeping cash invested elsewhere beats the rate premium
Keep Exploring
Related jumbo guides from Ryan & Steve.
Related Blog Posts
Frequently Asked Questions
Can I qualify for a jumbo loan with 10% down?
Yes — on select primary-residence jumbo programs with strong credit (often 720+), solid reserves, and clean recent housing history. Not every investor offers 90% LTV, so we match your file to programs that do.
Is 10% down available on second homes or investment properties?
Rarely. Second homes and investment properties typically require 15–25%+ down. Ten percent down is most realistic on owner-occupied primary purchases.
Does 10% down mean higher rates?
Usually yes. Higher LTV tiers carry a rate or fee premium compared with 15–20% down. On a large jumbo balance, that premium can still be worth preserving cash for reserves or closing costs.
What else do I need besides 10% down?
Expect stronger documentation on assets, employment, and reserves — often 6–12 months of PITIA after closing. Appraisal and property condition still need to clear investor overlays.
See If 10% Down Works for Your Jumbo Purchase
We check current investor grids for 90% LTV and model your cash, reserves, and payment side by side.
The 2 Mortgage Guys
Ryan Minick and Steve DeLon — Branch Managers & Senior Loan Officers at Luminate Bank. Based in Kokomo, Indiana. Lending nationwide since 2005.
Contact
Ryan Minick NMLS# 203249
Steve DeLon NMLS# 202876
Luminate Bank NMLS# 1281698
Kokomo's Mortgage Team. Lending Nationwide.
1221 Appletree Lane, Kokomo, IN 46902
Luminate Bank NMLS 1281698 Bank Headquarters 2523 S. Wayzata Blvd., Suite 100 Minneapolis, MN 55405 (952) 939-7200. This is not an offer to enter into an agreement. Information provided is outlining the minimum down payment requirements as allowed by specific loan program and product guidelines and any information, rates and programs are subject to change without prior notice and may not be available in all states. All loans are subject to credit and property approval. Luminate Bank is not affiliated with any government agency. All rights reserved.
© 2026 The 2 Mortgage Guys at Luminate Bank. All rights reserved.