What constitutes a jumbo mortgage?

Answer A mortgage is a loan used to purchase or construct your home. A jumbo mortgage is a home loan that exceeds the conforming loan limits set by Fannie Mae.Conforming Loan LimitsThe conforming loan lim... Read More »

Top Q&A For: What constitutes a jumbo mortgage

What constitutes mortgage rates?

Home ownership is part of the American dream. Of course, most home buyers cannot make the purchase in cash, and secure mortgage financing to buy property. Understanding how mortgages work is critic... Read More »

What is a 30-year jumbo mortgage?

A 30 year jumbo mortgage is a large debt on a residence. In most areas of the United States, a jumbo mortgage is above $417,000. However, in high cost areas of the United States, the can be as high... Read More »

What is a jumbo mortgage rate?

A jumbo rate is charged to a borrower whose mortgage balance is above the conventional mortgage limit. The conventional mortgage limit is $417,000 for most of the United States.SignificanceA jumbo ... Read More »

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 »