Jumbo Loans exceed the maximum loan amounts established by Fannie Mae and Freddie Mac conventional loan limits. Rates on jumbo loans are typically higher than conforming loans.

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Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes.

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A jumbo loan is one way to buy a high-priced or luxury home. If you have a lower debt-to-income ratio, a higher credit score, and a larger down payment, a jumbo loan may be right for you. The limit on conforming loans is $424,100 in most areas of the country, but jumbo mortgages can exceed these limits.