A Jumbo Loan at Mabrey
A Jumbo Loan, also known as a Jumbo Mortgage, is a loan that exceeds the maximum loan limits set by the Federal Housing Finance Agency. Like Conventional Loans, a Jumbo Loan can come in various terms and repayment schedules while being either a fixed-rate or adjustable-rate loan. There are some similarities to Conventional Loans, however Jumbo Loans have stricter requirements for a borrower, including the down payment, credit score and debt-to-income ratio. This type of loan can be used on numerous property types, including primary residences, vacation homes and investment properties.