The main difference between jumbo loans and conforming loans is the amount you are able to borrow. Conforming loans are limited to loan amounts set by the Federal Housing Finance Agency (FHFA), with the help of Freddie Mac and Fannie Mae. These loan amounts are referred to as conforming limits and change by area and… Read more

Jumbo loans are designed for borrowers looking to buy a home above conforming loan limits set by the Federal Housing Finance Agency (FHFA). Conforming loan limits change every year and differ based on the home price index, which measures the changes in average single-family home prices. Any loan over an area’s conforming limit will be… Read more

The U.S. Department of Veteran Affair (VA) offers government-back home loans for eligible military servicemembers, veterans and surviving spouses with requirements that aren’t quite as strict as they are for a conventional loan. Jumbo loans are loans with amounts above the conforming limits for an area.   A VA jumbo loan is a loan for an… Read more

An FHA loan is a government-backed home loan that allows more flexibility for a borrower’s down payment options and credit score. A jumbo loan lets borrowers get a loan larger than what the Federal Housing Finance Agency (FHFA) sets as the conforming limit for a county, or the maximum amount you can borrow with a… Read more

Any loan that exceeds a county’s conforming loan limit is considered a jumbo loan. Each year, the Federal Housing Financial Agency (FHFA) sets new conforming loan limits, which means what qualifies as a jumbo loan will change with it.  Conforming loan limits are the maximum a borrower can receive with a conventional loan. These limits… Read more