A jumbo loan is a mortgage used to finance properties that are too expensive for a conventional conforming loan. The maximum amount for a conforming loan is $766,550 in most counties, as determined by the Federal Housing Finance Agency (FHFA). Homes that exceed the local conforming loan limit require a jumbo loan.
Also called non-conforming conventional mortgages, jumbo loans are considered riskier for lenders because these loans can't be guaranteed by Fannie and Freddie, meaning the lender is not protected from losses if a borrower defaults. Jumbo loans are typically available with either a fixed interest rate or an adjustable rate, and they come with a variety of terms.
Braxton Toro
Mortgage Loan Originator
Getting started is quick and easy
If you have any questions, I'm here for you.
Send Braxton a message
I will get back to you soon.
I consent to receive SMS text messages from The Ciucevich Group LLC, Motto Mortgage Strategic, regarding my inquiry and mortgage services. Message frequency varies. Message and data rates may apply. Reply STOP at any time to opt out or HELP for assistance. You can also opt out at any time by clicking the unsubscribe link in our emails. Consent is not a condition of purchase. See our Privacy Policy here