How to Get a Jumbo Mortgage Loan?

Answer In the United States, a jumbo mortgage is a mortgage with a loan amount above conventional conforming loan limits. This standard is set by the two government-sponsored enterprises Fannie Mae and Fr... Read More »

Top Q&A For: How to Get a Jumbo Mortgage Loan

What is a jumbo mortgage loan?

A jumbo mortgage loan is a mortgage that exceeds the limit set by Fannie Mae. Fannie Mae is a government organization that guarantees mortgages.SizeThe conforming loan limit is adjusted each year b... Read More »

Definition of a Jumbo Mortgage Loan?

In America, HUD (U.S. Department of Housing and Urban Development) Fannie Mae, and Freddie Mac (the nation's two largest federally sponsored mortgage lenders) classify the majority of mortgages. In... Read More »

What is considered a jumbo mortgage loan?

There are several types of mortgages available to consumers, with 30- and 15-year fixed rate mortgages and five-year adjustable rate mortgages the most common. One type of uncommon loan is the jumb... Read More »

What is the meaning of a jumbo mortgage loan?

The federal government backs up many mortgages. It sets limits on the dollar amount it will guarantee for a standard mortgage, which was $417,000, as of 2010. Loans larger than this are called jumb... Read More »