Jumbo Loans
A “Jumbo” loan or mortgage, is a loan that exceeds the loan limits set for that particular county by the Federal Housing Finance Agency (FHFA) for conforming or Conventional loans. In most areas a Conforming limit is sufficient, but some areas or properties appreciate beyond these limits and the Jumbo product is appropriate and available for consumers.
If you are looking to purchase a personal home that has a high price tag, and don’t mind a higher payment, this loan could be for you. The interest rates are competitive and flexible and borrowers do have the ability to refinance when the time is right.