The county loan limit for conventional loans is set annually by the Federal Housing Finance Agency (FHFA). Loans exceeding this limit in a given county are classified as Jumbo loans. Jumbo loans typically require larger down payments compared to standard conventional loans and are subject to specific underwriting guidelines determined by the investor. Unlike conventional loans, Jumbo loans are not eligible for purchase by Fannie Mae or Freddie Mac. As a result, they generally have more stringent underwriting requirements, including stricter debt-to-income ratios, credit history standards, and reserve requirements.
*The Product/Program information contained here is educational only and does not represent actual rates or financing terms.
* Other conditions and restrictions may apply. Available programs are subject to change without notice. Contact your loan officer for more information