Even though interest rates are at their lowest point in decades, the jumbo loan market is still spotty. Sure, rates are lower than they have been â but the guidelines are still fairly tight. Want more articles like this? Create an account today to get BiggerPocket's best blog articles delivered to your inbox Sign up for free Some lenders who offer jumbo loans are requiring a high down payment, a pristine credit score â or both. And some are not even offering it at all â which means if you are in the market for a home that is worth more than the conforming loan limit in your area, be ready for some frustrations. Wait. Have you heard about the FHA jumbo loan program? It is somewhat new â and it is even possible that it won't be around very long. The FHA jumbo loan program is that it was part of the legislation passed which was created by HUD. It is actually at risk of going away at any time. But while it is available, the FHA jumbo loan program is great for people who are in the market for jumbo financing â the rates are low and depending on where you live in the country, FHA will allow you to finance up to $729,000 with just 3.5% down. Remember just a few years ago when buying a million-dollar house seemed "normal"? Well, now that used-to-be-million-dollar-house is now selling for $500,000 in some parts of the country. Which means it is a perfect candidate for FHA jumbo loan financing. High Level FHA Jumbo Loan Guidelines: Up to $729,000 financed. (based on the county loan limits published by HUD) 660 FICO score required 3.5% down payment 30 year fixed rates around 5% How long will it take to close a FHA jumbo loan? As long as it takes to close a "regular" FHA loan â and at least one lender can get your FHA jumbo loan closed in ten days. So if you find yourself in a situation where you have been shopping for jumbo loan financing only to be frustrated by the lender restrictions or guidelines â it may be worth the time to talk to a FHA loan officer about the FHA jumbo loan program. Before it is too late!