Everything You Need to Know About Jumbo Loans
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A jumbo loan, sometimes referred to as a jumbo mortgage, is a kind of financing that surpasses the Federal Housing Finance Agency's (FHFA) limits. A jumbo loan cannot be bought, guaranteed, or securitized by Freddie Mac or Fannie Mae, in contrast to regular mortgages.<br><br>Jumbo mortgages have special underwriting standards and tax ramifications, and they are intended to fund luxury homes and assets in fiercely competitive local real estate markets. After the Great Recession, when the housing market began to revive, these types of mortgages became more popular.
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Everything You Need to Know About Jumbo Loans
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