What is a Jumbo Loan?
- A mortgage with a loan amount greater than the conforming loan confines that are set and therefore, not qualified to be purchased by Fannie Mae or Freddie Mac. OFHEO sets the conforming loan limit size on an annual basis.
- A loan is considered a jumbo if it exceeds what is known as the conforming loan limit.
- You will have the ability to refinance or purchase up to $3,000,000.
- In most U.S. counties, a loan is considered a jumbo loan when it
exceeds the amount of $417,000 depending on where you live
- Need a loan for over $1,000,000? USJUMBOLOAN also offers super jumbo loans