What is a jumbo loan?

Answer A jumbo loan is higher than the money limits set by Fannie Mae and Freddie Mac, the two agencies responsible for insuring most mortgages approved in the United States. A single family property requ... Read More »

Top Q&A For: What is a jumbo loan

What is a jumbo arm loan?

A jumbo ARM loan is a mortgage that does not meet the conforming loan limits set by the Federal Housing Finance Agency and has an adjustable interest rate (ARM).What Are Conforming Loan Limits?The ... Read More »

What is the jumbo loan limit?

On One Hand: General Maximum Allowance.According to Fannie Mae, 2010 jumbo loan for a single unit (such as a single family home) in the continental United States is $417,000. Two-unit properties, $... Read More »

What is a jumbo conforming loan?

A jumbo conforming loan is a mortgage with an origination balance between $417,000 and $729,750. This category of loan was created by Congress during the financial crisis and allows these loans to ... 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 »