Jumbo Home Loan and Jumbo Mortgage Finance | Top Lender Deals

A Jumbo Mortgage is a mortgage with a loan amount above conventional loan limits is a mortgage with a loan amount above conventional loan limits is a mortgage with a loan amount above conventional loan limits

Mortgage with a Loan Amount Above Conventional Loan Limits

Conventional loan limits is a mortgage with a loan amount above conventional loan limits is a mortgage with a loan amount above conventional loan limits. Jumbo Mortgage Loans a mortgage with a loan amount above conventional loan limits

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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

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!

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Jumbo Home Loan News and Quick facts

Jumbo Mortgage Borrowers Buckle Up For Wild Ride - Mar. 12, 2010 (FreeRateUpdate.com) - The prudent among home owners with a mortgage are locking in the lowest mortgage rates since RCA black and white TVs were the rage in the Sears Roebuck catalog. We continue to see significant refinance risks for the “wait till later” crowd.
Jumbo Mortgage Rates Hit All-Time Low - Mortgages fall into two broad categories, conforming (sometimes referred to as conventional) mortgages, and jumbo mortgages. Conforming loans are those that are under $417,000, and jumbo mortgages are those that are over $417,000 (although the threshold amount is higher in some localities where property values are very high). Details...
Jumbo loan? No problem - Big mortgages aren’t dead, and there’s a huge project in Bellevue, Wash. to prove it. The high-end Bellevue Towers condominium project has had trouble selling its 550 units. more
Private Loan Mods Outnumbering Govt. Mods - The Hope Now Alliance, "the private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors," reported today: More at CNBC
Wells Fargo Fixed Jumbo Mortgage Rate at 5.5 - Wells Fargo updated their mortgage rates at 12:00 PM EST today. Today’s Wells Fargo 30 year fixed mortgage rates are at 4.875% for conventional 30-yr fixed mortgages, with an APR 5.065, for well-qualified consumers. More...