A Jumbo Loan is often called a non-conforming loan, because it exceeds the dollar limits set by two government-sponsored enterprises - the Federal National Mortgage Association (Fannie Mae) and the Federal Home Loan Mortgage Corporation (Freddie Mac). A Supreme Lending Mortgage Professional will explain all the details and help you find a loan option that's a perfect fit for your new home
- In most U.S. counties, a Jumbo Loan is any mortgage over $548,250
- In higher cost areas, Jumbo Loans start at $822,375
- These loans enable buyers to purchase “more house,” such as luxury properties or vacation homes, without tapping into savings
- Fixed-rate and adjustable-rate loans available
- Usually require down payments of 20%
- Refinancing options available
- Personalized service from knowledgeable Mortgage Professional
