Of the 40 states and the District of Columbia where we are licensed, California had the largest share of jumbo home purchase loans in 2025: about 11.4 of every 100 first-lien home purchase loans for a principal residence originated there were above the conforming loan limit, against about 3.6 nationally. Massachusetts (9.2) and the District of Columbia (8.9) come next. Alaska (0.2), Iowa (0.5) and Mississippi (0.6) are the smallest three. The study is written for buyers of higher-priced homes.
What the data covers, and what it does not
HMDA, the Home Mortgage Disclosure Act, requires covered lenders to report their mortgage loans to the federal government. The Consumer Financial Protection Bureau publishes the result. It has limits:
- Lenders that report. A lender reports when it meets the size tests in Regulation C, such as at least 25 closed-end mortgage loans in each of the two preceding calendar years. Smaller lenders are not here.
- Above the limit is a flag in each record. Each loan record says whether the loan amount is above the conforming loan limit: C for conforming, NC for nonconforming, U for undetermined and NA for not applicable. NC loans count as jumbo. The 112 loans flagged U or NA nationally stay in the count of all loans.
- The limit depends on the county. The Federal Housing Finance Agency sets the conforming loan limits each year under a formula in federal law. They are higher in high-cost counties.
- All four loan types. The flag applies to every loan type. Nationally, 99,466 of the 108,171 loans above the limit were conventional, 8,335 VA, 369 FHA and one USDA.
- First liens on a principal residence. The study counts home purchase loans secured by a first lien on a home the borrower lives in. Nationally, 582,829 second liens and loans for a second residence or investment property are left out.
- It does not say why. The data record the loan amount against the limit, not why a buyer borrowed it or who the borrower was.
The table: 40 states and the District of Columbia
The second column counts jumbo loans in every 100 first-lien home purchase loans for a principal residence originated in the state in 2025.
| State | Jumbo loans per 100 home purchase loans | Jumbo home purchase loans | All home purchase loans counted |
|---|---|---|---|
| California | 11.4 | 24,414 | 213,282 |
| Massachusetts | 9.2 | 4,680 | 50,872 |
| District of Columbia | 8.9 | 420 | 4,741 |
| Washington | 7.9 | 5,748 | 72,945 |
| Hawaii | 6.4 | 489 | 7,621 |
| Connecticut | 6.4 | 1,824 | 28,551 |
| Colorado | 6.0 | 4,135 | 68,935 |
| Utah | 4.5 | 1,650 | 36,751 |
| Nevada | 4.0 | 1,271 | 32,142 |
| Florida | 4.0 | 9,366 | 237,078 |
| Arizona | 3.9 | 3,128 | 80,538 |
| Montana | 3.8 | 360 | 9,574 |
| New Jersey | 3.5 | 2,298 | 65,065 |
| Idaho | 3.5 | 824 | 23,680 |
| Maryland | 3.2 | 1,750 | 54,878 |
| North Carolina | 3.1 | 3,893 | 123,858 |
| Oregon | 3.1 | 1,198 | 38,117 |
| Georgia | 3.1 | 3,366 | 108,852 |
| Texas | 3.0 | 9,347 | 310,058 |
| Tennessee | 3.0 | 2,267 | 76,408 |
| Illinois | 2.9 | 3,138 | 106,581 |
| Virginia | 2.9 | 2,621 | 89,292 |
| South Carolina | 2.8 | 2,040 | 72,449 |
| New Hampshire | 2.8 | 352 | 12,614 |
| Pennsylvania | 2.1 | 2,196 | 102,720 |
| Minnesota | 1.9 | 1,125 | 58,890 |
| Kansas | 1.6 | 455 | 28,303 |
| Delaware | 1.5 | 175 | 11,291 |
| Michigan | 1.5 | 1,421 | 93,426 |
| Wisconsin | 1.5 | 814 | 54,759 |
| Ohio | 1.2 | 1,412 | 113,909 |
| Arkansas | 1.2 | 362 | 30,218 |
| Alabama | 1.1 | 592 | 52,507 |
| New Mexico | 1.1 | 200 | 17,895 |
| Indiana | 1.1 | 850 | 76,490 |
| Louisiana | 1.1 | 378 | 35,309 |
| Kentucky | 1.0 | 446 | 43,218 |
| Oklahoma | 1.0 | 368 | 38,430 |
| Mississippi | 0.6 | 153 | 24,162 |
| Iowa | 0.5 | 152 | 33,191 |
| Alaska | 0.2 | 11 | 6,841 |
| United States, national figure | 3.6 | 108,171 | 2,993,788 |
Source: Consumer Financial Protection Bureau, HMDA Data Browser, 2025 data, read November 12, 2026. Ratios worked out by Fidelity Residential.
What the table shows
- The nation. 108,171 of 2,993,788 first-lien home purchase loans for a principal residence originated in 2025 were above the conforming loan limit, about 3.6 in every 100. 12 of the 40 states and the District of Columbia are above that figure and 29 are below it.
- Counts. California has the most jumbo home purchase loans, 24,414, then Florida with 9,366 and Texas with 9,347.
- Alaska and Hawaii have higher limits by law; Hawaii is still fifth and Alaska last, with 11 jumbo loans of 6,841.
- New Jersey has 2,298 jumbo home purchase loans of 65,065, 13th, at about 3.5, just below the national figure.
How we did this
- Dataset: CFPB HMDA Data Browser, 2025 data, loans originated (action taken 1) for a home purchase (loan purpose 1).
- Filters: first lien (lien status 1) and principal residence (occupancy type 1), all loan types and all four flags, counted from each state’s downloaded file; jumbo is flag NC.
- Formula: jumbo loans divided by all loans that pass those filters, times 100. The national figure sums all states and the District of Columbia.
- Check: in every state, the downloaded file holds the same number of loans and the same total loan amount as the aggregation report, and the counts by loan type, lien and occupancy match a separate download made on November 11, 2026.
Open data. The table may be cited with credit to Fidelity Residential and a link to fidresi.com/insights/jumbo-home-purchases-by-state/.
If you are buying a higher-priced home
The table says nothing about any loan we offer. Our jumbo loans page puts it this way: “A jumbo loan is a home loan for a higher-priced home, larger than the conforming limit set each year for the county; because the agencies do not buy it, each jumbo program writes its own rules.” Our study of homes valued at 1 million dollars or more counts homes; this one counts loans. Loan programs differ from state to state, and the states in this table are where we are licensed, which says nothing about any one program.
Frequently asked questions
Why does the table show 40 states and the District of Columbia?
Fidelity Residential is licensed in 40 states and the District of Columbia, and the table covers those.
What counts as a jumbo loan here?
A loan whose HMDA record carries the flag NC, nonconforming: above the conforming limit.
Why is there no margin of error?
HMDA is a report of loans by the lenders that file, not a survey sample, so each figure is a count.
Sources
- Consumer Financial Protection Bureau, FFIEC, HMDA Data Browser API documentation (opens in a new tab), accessed November 12, 2026.
- Consumer Financial Protection Bureau, FFIEC, HMDA Data Browser, 2025 data (home purchase loans originated, by state) (opens in a new tab), accessed November 12, 2026.
- Consumer Financial Protection Bureau, FFIEC, HMDA loan/application register (LAR) data fields: action_taken, loan_purpose, loan_type, lien_status, occupancy_type, conforming_loan_limit, open-end_line_of_credit, reverse_mortgage (opens in a new tab), accessed November 12, 2026.
- Consumer Financial Protection Bureau, Regulation C, 12 CFR 1003.2 (definitions, including financial institution) (opens in a new tab), accessed November 10, 2026.
- Federal Housing Finance Agency, Conforming Loan Limit Values (opens in a new tab), accessed November 12, 2026.
Facts from these sources are stated in our own words. Last reviewed .
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