Jumbo Loan

1 topic · 3 sources

Real Estate

A loan that exceeds the mortgage amount eligible for purchase by Fannie Mae or Freddie Mac. Also called "nonconforming loan."

Federal Trade Commission — Real Estate Marketplace Glossary

A nonconforming loan that is larger than the limits set by the Federal National Mortgage Association (FNMA) or Federal Home Loan Mortgage Corporation (FHLMC) guidelines.

Ginnie Mae — Ginnie Mae Glossary of Terms

Or non-conforming loan, is a loan that exceeds Fannie Mae's and Freddie Mac's loan limits. Freddie Mac and Fannie Mae loans are referred to as conforming loans.

US Department of Housing and Urban Development — Homes & Communities Glossary