Introduction: What Is a Jumbo Loan?
If you have been thinking about buying or refinancing a home, you may have heard the term “jumbo loan” or “jumbo mortgages.” These phrases are fanciful and are often tossed about with little explanation. You may have figured out that a jumbo mortgage is a larger-than-normal loan, but you still aren’t sure why it needs a special name or special treatment. If you’re confused, you’re not alone.
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You might be asking, “What is a jumbo loan?” “What is the jumbo mortgage limit?” and “What are the best jumbo mortgage rates?” Today, we are going to answer all these questions and more. By the time you’re done with this article, you’ll have everything you need to know as you look at jumbo mortgages. Let’s get started.
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