What is a jumbo loan – The difference between jumbo and conforming loans. A jumbo loan is a type of mortgage designed to finance high value homes that require loans above the standard conforming
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What is jumbo loan – This means they fall outside of federal housing finance agency fhfa loan restrictions and are therefore not backed by fannie mae. These mortgages also called jumbo loans are nonconforming.
What s a jumbo loan – Because it does not conform to those size restrictions it cannot be sold to fannie mae or freddie mac via the secondary. In most parts of the country