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Welcome To JumboLoanRates.net
Jumbo
Mortgage Loans Are Our Business! We are the lender, not a referral service!
Jumbo Loan Overview Jumbo loans are a mortgage with a loan amount above conventional mortgage limits. Jumbo Mortgages take affect when the agency Fannie Mae (FNMA) and Freddie Mac loan limits don't cover the full amount to be borrowed. Fannie Mae and Freddie Mac are private organizations that purchase the majority of mortgages in the country. A limit is set on the maximum dollar value of any mortgage which they will purchase from a lender. As of now, the current limit is $333,700. This leaves a large gap for people looking to borrow above conventional loan limits. Large private investors such as insurance companies and securities fill the void by purchasing large loan notes as secure investment. Generally speaking jumbo loan rates are slightly higher than conforming loan interest rates since there is a greater risk involved for the investor. Contrary to popular belief FHA does not offer jumbo loans. To see FHA loan limits click here.
All of us at `Jumbo Loan Rates` are dedicated to helping new and existing homeowners achieve the best mortgage solutions for people whom seek large loan amounts that fall within the jumbo category. By providing unbiased information on loans and current mortgage interest rate , we are glad to provide you with these resources.
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