FHA Jumbo Loan Limits for Home
Jumbo Loan is a loan
request exceeding $650,000.
A super jumbo loan typically
has a rate .25% higher than
your average jumbo loan.
Super Jumbo Mortgages are those
offered above and beyond the
average jumbo loan amount of
$417,000 and have special programs
aimed directly at these consumers.
Programs range from "Interest
Only" Libor Loans, Adjustable
Rate, and Fixed Rate Mortgages.
also called non-conforming loans,
are mortgages with loan amounts
greater than the conforming
loan limit. The conforming loan
limit is set every January.
The current conforming loan
limit is $417,000.
What is the Conforming
loan limit is the maximum loan
size eligible for purchase by
either Fannie Mae or Freddie
Mac, who purchase the underlying
securities from mortgage originators.
Those funds are then reinvested
in new mortgages, and the flow-of-funds
loan limit, or “Jumbo Loan amount”
is set every January. This year,
the limit for single-family
homes and condominiums is $417,000.
Quicken Loans conforming loan
limit has also been raised to
When a Loan Becomes
When a loan amount
is higher than the conforming
limit, it becomes a Jumbo Loan
– or non-conforming loan – with
slightly higher interest rates.
compared with historically low
mortgage rates, can bring greater
flexibility for some home buyers
to purchase the house they want
and make the payment they want.