Definition
A mortgage exceeding the conforming loan limit for its county, requiring non-agency underwriting.
Example
The jumbo loan required 12 months of reserves and a 720 minimum credit score.
Related terms
- Acceleration Clause
- Accrued Interest
- Adjustable Rate Cap
- Adjustable-Rate Mortgage
- Amortization
- Annual Percentage Rate
Frequently asked questions
What does Jumbo Loan mean in real estate?
A mortgage exceeding the conforming loan limit for its county, requiring non-agency underwriting.
How is Jumbo Loan used in practice?
The jumbo loan required 12 months of reserves and a 720 minimum credit score.
This definition is provided for educational purposes. Legal and tax terminology can carry jurisdiction-specific meaning — confirm with a licensed professional before relying on it in a transaction.