Jumbo Loan Purchase

Jumbo Loans Exceed Traditional Limits                                                               

When a loan exceeds the maximum amount for a conventional, conforming, or Super Conforming loan, it is referred to as a Jumbo Loan.  The amount that qualifies a loan as Jumbo changes based on standards set by Freddie Mac and Fannie Mae and the year.

Since Jumbo loans are much larger than regular loans and therefore trickier for lenders to resell,jumbo loans may have higher interest rates than the average loan.