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What is a jumbo mortgage?
Posted : 28/04/2024 3:00 pm
A jumbo mortgage is a type of mortgage that exceeds the limits set by the Federal Housing Finance Agency (FHFA). This type of mortgage is used to finance luxury properties and homes in highly competitive local real estate markets and have unique underwriting requirements and tax implications. Jumbo mortgages are not eligible to be purchased, guaranteed or securitized by Fannie Mae or Freddie Mac.
Posted : 30/04/2024 9:48 pm