For a loan to be considered a “jumbo” mortgage, the loan amount must exceed conventional conforming loan limits, which are currently $417,000 in most areas of the country. It is important to note that jumbo mortgages can exceed these limits. The U.S. Housing Department has a useful tool on their website, where you can find limits in each state/county.
For further information on jumbo loans, please contact us. Our mortgage professionals will review your loan options and help you figure out whether a jumbo loan is right for you.