Jumbo

What Is a Jumbo Loan?

A Jumbo Loan is a loan which is larger (greater than $424,100) than the limits set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation. 

A jumbo mortgage is also called non-conforming mortgage. To qualify as a non-conforming, a loan does not “conform” to the guidelines created by Congress in 1938 and 1970 of Fannie Mae and Freddie Mac. The guidelines of Fannie Mae and Freddie Mac provide stability and affordability to the mortgage market by buying “conforming” mortgages from lenders. It gives lenders liquidity to make more mortgages. 

Loan Web USA has provided dozens of jumbo loan products to or our non-conforming borrowers.