What is a jumbo mortgage loan?

Answer 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 »

Top Q&A For: What is a jumbo mortgage loan

What is a jumbo mortgage loan amount?

A mortgage is a loan used to purchase a home. A jumbo mortgage loan is a mortgage that exceeds the conforming loan limits set by Fannie Mae, a government organization that backs mortgages.FunctionW... 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 »

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 »

How to Get a Jumbo Mortgage Loan?

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 »