A Jumbo Mortgage Loan is a non-conforming loan that exceeds $548,250 (2021). These loans can have fixed or adjustable rates. A jumbo mortgage loan will usually require a higher down-payment (typically 20%). Loan turnaround time on jumbo loans may be longer than other mortgage products.
Higher loan limit
Fixed and adjustable rates
15 and 30 year terms
Luxury and vacation homes
No Private Mortgage Insurance (PMI)
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