Is 20% down on a jumbo loan always necessary?

In today's lending arena, yes. Some lenders require 25%, but I am not aware of any lenders offering true Jumbo loans with less than 20% down. ~ Bert Carpenter, The LoansA2z Team of NEXA Mortgage ~ NMLS 40586 ~ At NEXA, we've got you covered. We are licensed in all states except MA and NY and we are pending approval in VA, so give us a call. ~ www.ApplyYes.com 480-889-9000.

That is correct, the minimum down payment is 20% on Jumbo loans.

20% down on a jumbo loan has been the golden rule. You may have been able to find a rare 15% down, and we even used to offer a 10% down. Since COVID, I am not aware of anything less than 20% down on a jumbo loan. I offer jumbo loans in MN, WI, IA, SD, ND. Find me at JoeMetzler.com - Cambria Mortgage, NMLS 274132

No, some people buy and put much less than that down. Feel free to contact me at 216-496-0211.