Generally, a jumbo loan is a mortgage with a loan amount that exceeds the conforming loan limit of $484,350.
Conforming loan limits vary by county and may be higher in counties with more expensive housing.
If a loan amount exceeds the conforming loan limit, then it is considered more risk so it requires more strict credit requirements to qualify. However, a jumbo loan is a great way to enhance your credit and purchase the home of your dreams. Contact Loan Remedy today to see if a jumbo loan is the right choice for you!