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> Home
> Fixed Rates > ARM's > Jumbo Loans > Bad Credit Score > Refinancing > 100% LTV > Interest Only > Home Equity HELOC > Commercial > Construction |
Jumbo Mortgage
Also known as a 'non-conforming' mortgage. Conventional home mortgages not eligible for sale and delivery to either Fannie Mae (FNMA) or Freddie Mac (FHLMC) because of various reasons, including loan amount, loan characteristics or underwriting guidelines. Non-conforming loans usually incur a rate and origination fee premium. The current conforming loan limit is $359,650 and below for a single family residence, $460,400 and below for a 2 unit property, $556,500 and below for a 3 unit property, and $691,600 and below for a 4 unit property. Loan amounts greater than this are considered non-conforming or jumbo mortgages.
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