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A Jumbo mortgage is a home loan with an amount that exceeds conforming loan limits imposed by Fannie Mae and Freddie Mac, the two government-sponsored enterprises that buy mortgages from lenders. The limit is $417,000 in most parts of the United States but is $625,000 in the highest-cost areas and in-between.
Allows you to purchase a higher-priced home. You can tell your friends you have a jumbo loan. You don’t have to take out two or more loans; it’s a one loan mortgage. You can choose from a fixed or AR. You’ll now have room for the Mother in law (yay!)
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4140 E. Baseline Rd. Ste 206 Mesa, AZ 85206 | NMLS 160265
Licensed by the Department of Financial Protection and Innovation under the California Residential Mortgage Lending Act License #413-0766
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