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Mortgage glossary
Jumbo Loan
A mortgage larger than the conforming loan limit that applies to the property and year. Limits can change each year and may be higher in certain areas. Because the loan does not meet standard conforming limits, credit, asset, income, reserve, and down payment requirements may be different.
In plain language
This term may appear in conversations, forms, or documents during the mortgage process. If something important changes in your situation, ask how it may affect your case before making a decision.
This explanation is general and educational. It is not personalized advice, a loan offer, or a promise of approval.