What is a Jumbo Loan?
- Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. Rates on jumbo loans are typically higher than conforming loans. Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes, and usually require a higher down payment than traditional loans.
- How much you can ultimately borrow depends on your assets, your credit score and the value of the property you’re interested in buying.Click here for more information.