Definition
What constitutes a
jumbo loan?
One factor constitutes a jumbo loan: the loan amount exceeds the FHFA conforming limit for the county where the property is located.
One factor constitutes a jumbo loan: the loan amount exceeds the FHFA conforming limit for the county where the property is located.
A mortgage is classified as jumbo when — and only when — the loan amount exceeds the applicable county conforming limit. This is determined by the amount borrowed, not the purchase price or property value.
A buyer purchasing a $900,000 property: if they put $100,000 down, the loan amount is $800,000 — below the baseline, a conforming loan. If they put $50,000 down, the loan is $850,000 — above the baseline, a jumbo loan. The down payment determines which category applies.
A licensed MLO will review your situation and identify the right programs. NMLS# 1967971 · FL, TN, SC, CO, TX.
All content on this page is for informational and educational purposes only and does not constitute financial, legal, or mortgage advice. Loan programs, qualification requirements, and availability are subject to change without notice and vary by lender, borrower profile, property type, and market conditions. All loans are subject to credit approval. Not a commitment to lend. Speak with a licensed Mortgage Loan Originator for guidance specific to your situation. New Century Mortgage LLC · NMLS# 1967971 · Equal Housing Lender · NMLSConsumerAccess.org