Jumbo Home Loan and Mortgage Finance
A Jumbo Mortgage is a mortgage witha loan amount above conventional loan limits is a mortgage witha loan amount above conventional loan limitsis a mortgage witha loan amount above conventional loan limits
mortgage witha loan amount above conventional loan limits
Conventional
loan limits is a mortgage witha loan amount above conventional loan
limitsis a mortgage witha loan amount above conventional loan limits
Jumbo Mortgage Loans a mortgage witha loan amount above conventional loan limits123
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Jumbo Home Loan
A Jumbo Mortgage is a mortgage with a loan amount above conventional loan limits. Jumbo Mortgages apply when agency (FNMA and FHLMC) limits don't cover the full loan amount. Fannie Mae (FNMA) and Freddie Mac (FHLMC) are large agencies that purchase the bulk of residential mortgages in the U.S.
They set a limit on the maximum dollar value of any mortgage they will purchase from a bank or individual lender. Currently, this limit is $417,000. Any borrower wanting a mortgage above this level must look elsewhere for placement. Other large investors mainly banks step in to fill the need with maximum mortgage amounts going from $417,000 to the $5 million range.
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2006 Conforming Loan Limits 
No. of Units
1
2
3
4
Contiguous States District of Columbia and Puerto Rico
$417,000 (up from $400,000)
$533,850 (up from $427,150)
$645,300 (up from $516,300)
$801,950 (up from $641,650)
Alaska, Hawaii & Virgin Islands
$539,475
$690,600
$834,750
$1,037400
Our Mortgage Calculator can help you make educated decisions about your mortgage loan whether you plan on buying a new home, considering refinancing, or just need to know what your mortgage loan options are!
Jumbo Home oan News and Quick facts
- A Jumbo Mortgage is a mortgage witha loan amount above conventional loan limits is a mortgage witha loan amount above conventional loan limitsis a mortgage witha loan amount above conventional loan limits
- A Jumbo Mortgage is a mortgage witha loan amount above conventional loan limits is a mortgage witha loan amount above conventional loan limitsis a mortgage witha loan amount above conventional loan limits
- A Jumbo Mortgage is a mortgage witha loan amount above conventional loan limits is a mortgage witha loan amount above conventional loan limitsis a mortgage witha loan amount above conventional
- A Jumbo Mortgage is a mortgage witha loan amount above conventional loan limits is a mortgage witha loan amount above conventional loan limitsis a mortgage witha loan amount above conventional