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Jumbo Loan



What Is A JUMBO Loan?



JUMBO loans are our specialty. Most lenders shy away from them. We, however, welcome JUMBO loans with open arms. Not only do we specialize in jumbo loans, but we will provide you with some of the most competitive terms, rates, and programs available in the market for JUMBO loans.


By definition, JUMBO loans are those that exceed Fannie Mae and Freddie Mac's conforming loan limits. JUMBO loans offer flexibility the same way that conforming loans do. However, they are not eligible for purchase by Fannie Mae or Freddie Mac so the rates are sometimes slightly higher.

Each state and county has its own definition of a conforming loan limit. For example, Merced County in California, has a loan limit of $417,000. Anything above this loan amount is considered a non-conforming loan, or a jumbo loan. However, San Francisco County in California has a loan limit of $625,500 as its lown threshold. Why the difference?


Well, the agencies that put these loan limits together have done statistical analyses and have used historical, as well as current, data to measure what the average loan size is in every single county throughout the United States, in addition to factoring in the cost of living. Based on this research, each county has its own designated loan limit as defined by the agencies. In San Francisco County, California, a loan up to $625,500 still conforms to Fannie Mae and Freddie Mac's guidelines to be purchased. However, it is considered a high-balance loan due to it being above the normal $417,000.


Our JUMBO loans are designed to meet the marketplace's demanding financing needs. We recognize that homeowners who own larger homes with larger mortgages have needs too. So while your JUMBO loan may not conform to Fannie Mae or Freddie Mac's guidelines, do not worry. We have special investor loans with super low rates to meet every JUMBO borrower's needs. You can rely on MortgageLoan Corp. for competitive mortgage rates and terms on all of loan products--JUMBO included.






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