As a general rule, yes. However, whether conforming loan rates are lower or higher than jumbo loans depends on the type of loan, the borrower’s unique financial situation, the type of property the mortgage is for, and the property's zip code. Better Mortgage also takes into consideration how soon a borrower is likely to refinance.
While the size of jumbo loans increases their risk to the lender—which would typically suggest a higher interest rate—some borrowers with good credit and sound financial reserves may be offered a lower interest rate.
The Better Mortgage rates calculator will demonstrate how a change to your down payment, credit score, purchase amount, and the property's zip code can affect your interest rate.
If you're planning to refinance or sell the property within the first 10 years, an adjustable-rate mortgage (ARM) could help you save on interest payments. ARMs typically offer lower interest rates during the introductory 5–10 year fixed rate period than a traditional fixed-rate mortgage.