Jumbo Loans

 

A jumbo loan is a loan in which the amount borrowed is greater than the loan limit set by Fannie Mae (FNMA) & Freddie Mac (FHLMC). A loan amount greater than $424,100, is considered a jumbo loan.

 

Advantages:

 

      • Able to finance a home that is over the maximum loan amount of $424,100 established by Fannie Mae and Freddie Mac
      • Enables a borrower to purchase “more house”.

 

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