What is the definition of a jumbo mortgage?

Answer When you apply for a mortgage, the amount you are seeking to borrow will determine whether you are able to get a conventional mortgage or if you will need a jumbo mortgage. Jumbo mortgage have high... Read More »

Top Q&A For: What is the definition of a jumbo mortgage

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 constitutes a jumbo mortgage?

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 »

What is a jumbo mortgage in california?

Jumbo loans are used by buyers who want to purchase homes in more expensive areas of California and beyond. These types of loans now are guaranteed by Freddie Mac and Fannie Mac.History of Jumbo L... Read More »

What is a jumbo mortgage in New Jersey?

Borrowers looking for home financing amounts that fall outside of traditional guidelines often find themselves shopping for a jumbo loan. Jumbo loans were designed to help borrowers afford luxury h... Read More »