Jumbo home loans are home loans that exceed conforming loan limits. A jumbo home loan is one way to buy a high-priced or luxury home.
- Jumbo home loans allow you to borrow an amount which exceeds the conforming loan limits set by Fannie Mae and Freddie Mac.
- Jumbo home loan rates are very competitive with conforming home loan rates, and the interest on jumbo home loans may still be tax-deductible.
- Jumbo home loans are available for primary residences, second or vacation homes and investment properties, and are also available in a variety of terms.
- Credit score requirements are about the same for conforming home loans and jumbo home loans.