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 What is considered a jumbo mortgage loan?

Answer 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 »
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Top Q&A For: What is considered 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 »
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What was considered a jumbo mortgage in 2009?

The financing limits on jumbo mortgages declined in 2009 from 2008 levels. Limits vary from area to area. For example, San Francisco, California, had a threshold of $625,500 while many lower priced... Read More »
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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 »
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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 »
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