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What Is A Jumbo Mortgage And Who Needs One?
November 20, 2021

What Is A Jumbo Mortgage And Who Needs One? A jumbo loan is a mortgage that exceeds the conforming loan limit set by the federal government. These loans—meant to finance expensive properties—cannot be purchased or securitized by the government-backed entities Fannie Mae or Freddie Mac, which increases a lender’s risk because it will have to hold onto the loan for longer. You’ll pay more for a jumbo mortgage than a conventional home loan,...