Simply put, a Jumbo Loan is a Mortgage with a loan amount that’s larger than today’s conforming loan limits allow. These loans are designed for borrowers who are purchasing or refinancing a home that is priced higher than the conforming loan limits set by Fannie Mae and Freddie Mac.
In certain areas of the Country where there are high home prices the conventional loan limits have been expanded to include High Cost Areas with elevated loan limits.
If you are interested in buying or refinancing a higher priced home, a Jumbo loan could be your next step. Contact us to see if you qualify and to get started on your loan process today!