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Wondering how much your mortgage will be? Use our calculators to perform mortgage-related calculations such as your expected monthly payments.
Jumbo Loans
Conventional loans that are too large for Fannie & Freddie to buy are called jumbo loans. Jumbo loans refer to those loan amounts outside of the "conforming" range or, above $417,000 to $5 million + for primary residences and second homes. A Jumbo or Non-Conforming Mortgage Loan is any mortgage that exceeds the conforming loan limit of $417,000 in this area. Jumbo loans, like conforming loans, are available as fixed rate mortgages or as ARMs. Typically, jumbo loan rates are higher than conforming loans due to appetite in the secondary market for these type loans. Jumbo loans have lower Loan to Values, typically starting at 80% due to the risk of loans.