Where the line falls in 2026
Any loan above the conforming limit is a jumbo, and for 2026 all five counties in the Philadelphia area sit at FHFA’s baseline. None is designated high-cost, which is a little surprising to anyone who has priced a house in Gladwyne.
| Units | 2026 conforming limit | Jumbo starts at |
|---|---|---|
| 1 | $832,750 | $832,751 |
| 2 | $1,066,250 | $1,066,251 |
| 3 | $1,288,800 | $1,288,801 |
| 4 | $1,601,750 | $1,601,751 |
The limit applies to the loan amount. A $1,000,000 house with 20% down is an $800,000 loan, which is conforming and gets conventional pricing and rules. Buyers close to the line often put down a little extra to stay under it, and the lender can show you whether that’s worth doing.
Where jumbo lives around Philadelphia
Most of the region’s jumbo volume comes from a few places. On the Main Line, that’s Lower Merion (Gladwyne, Villanova, Bryn Mawr, Haverford), Radnor around Wayne, and Tredyffrin in Berwyn and Paoli. In Chester County it’s Chester Springs, Malvern, Willistown, and the townships ringing West Chester. In Bucks it’s New Hope, Solebury, and Upper Makefield.
Inside the city, jumbo means Rittenhouse Square and Society Hill, the condo towers along the Parkway and the Schuylkill, stone singles in Chestnut Hill, and the larger new builds in Fishtown and Northern Liberties. See Ardmore and the Main Line, Center City, and Chester County for the local detail.
What the lender wants to see
Jumbo loans stay on the lender’s books or go to private investors instead of Fannie and Freddie, so every lender writes its own rules. The ranges below are typical for 2026; the exact numbers depend on the loan size and the property.
| Item | Typical range |
|---|---|
| Down payment | 10% to 20%, and 20% or more above roughly $1.5 million |
| Credit score | 700 or better to qualify, 740 to 760 or better for the best pricing |
| Debt-to-income | Capped at 43% to 45%, with some lenders preferring 36% to 38% |
| Reserves after closing | 6 to 12 months of full payments |
Reserves are the line that catches people. A household with the income for a $1,200,000 house in Wayne but every dollar committed to the down payment will hear “no” from some lenders and “yes with 12 months” from others. Retirement accounts often count at a discount. Self-employed buyers should expect two years of returns and read self-employed mortgages first.
The transfer tax at these prices
Pennsylvania’s transfer tax is a percentage, and at jumbo prices the percentage stops being abstract. The buyer customarily pays half.
| Price | Philadelphia (4.578%) | Radnor or Tredyffrin (2.5%) | Standard suburbs (2%) |
|---|---|---|---|
| $900,000 | $41,202 | $22,500 | $18,000 |
| $1,200,000 | $54,936 | $30,000 | $24,000 |
| $1,500,000 | $68,670 | $37,500 | $30,000 |
Your half on a $1,200,000 Society Hill house is $27,468, and it can’t be financed. Property tax follows. Philadelphia’s rate is 1.3998% of assessed value, so a $1,200,000 assessment carries a bill around $16,798 a year before the $100,000 homestead exemption takes up to $1,399 off. Suburban rates depend on the school district, and Lower Merion’s is famous for a reason. Escrow is set from the exact address, so ask for that number early.
Center City condos and jumbo
A lot of the city’s jumbo purchases are condos, and the building gets underwritten alongside you. Jumbo lenders run their own project review, and most borrow the agencies’ checklist: reserves at or above 10% of the annual budget, no more than 15% of units behind on dues, commercial space under 35%, adequate master insurance, and no critical repairs outstanding. Towers with a pending assessment for facade or garage work are the ones that stall. Get the building documents before you write the offer, and read condo loans.
Fixed or adjustable
Adjustable-rate loans are more common in jumbo lending than in the conforming market, and lenders price them differently. A fixed rate suits a buyer settling into a Bryn Mawr house for twenty years. An adjustable can suit a buyer who expects to sell or refinance inside the fixed period, and who can absorb a higher payment if that plan changes. The lender shows both, and we won’t guess at either rate here.
Radnor and Tredyffrin charge 2.5% transfer tax, and Upper Providence charges 3%. On a $1,200,000 house in Wayne that’s $6,000 more in total tax than the same house a mile east in Lower Merion, with your customary half at $3,000. Check the township line first.
Start with one call
Tell us the town, the price, and roughly what you have in reserves. We’ll connect you with a lender who does jumbo loans on the Main Line and in Center City, and one conversation tells you whether your reserves are enough. Call us.