The conforming limit is not a cliff edge in the property market, but it is one in the lending market. Cross it and a different, shorter list of lenders applies, each with its own view of what a high-value borrower should look like.
Reserves
Expect to evidence several months of payments held in reserve after closing. The number of months varies widely and is one of the first things worth checking, because it changes how much deposit you can safely commit.
Appraisals
Above certain thresholds a second appraisal may be required, which adds both cost and calendar time. Knowing the threshold your lender uses before you make an offer avoids an unwelcome surprise in the middle of a chain.
Pricing
Jumbo pricing is not uniformly higher than conforming pricing. Some portfolio lenders price it keenly because they intend to keep the loan. Others price it defensively because they do not really want it. The spread between them is the reason to shop the file properly.
