Jumbo Mortgage Loans

Jumbo Mortgage Rate Comparisons

A Jumbo Mortgage Loan is any mortgage loan above the conforming loan limit. Currently the conforming loan limit is $359,600 for a single-family home, (this limit is adjusted annually to keep pace with inflation etc.)

Jumbo Loans typically have a higher interest rates than conventional loans of a lesser value, although only slightly higher. The rate differential occurs because mortgage lenders generally have a higher risk on these Jumbo Loans than conforming loans as well as some additional underwriting restrictions and higher a Origination fee.

Jumbo loans are also known as non-conforming loans. They do not conform to the guidelines set out by Fannie Mae and Freddie Mac for conventional loans.

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