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jumbo mortgage

Home mortgage amount that exceeds the limit for qualifying for government-backed low interest rate loans. This limit is temporarily set at $729,750 and may change at the end of year 2008. Government-backed loans are bought or securitized by the federal agencies Fannie Mae (FNMA) and Freddie Mac (FHLMC) and are therefore available at comparatively low interest rates. To qualify for these rates when buying very expensive houses the borrowers have to pay down the over-the-limit amount from own resources.

Related information about jumbo mortgage:
  1. Jumbo mortgage - Wikipedia, the free encyclopedia
    In the United States, a jumbo mortgage is a mortgage loan in an amount above conventional conforming loan limits. This standard is set by the two ...
  2. Taking On A Jumbo Mortgage |
    Jul 9, 2012 ... How is a jumbo mortgage different from a regular conforming mortgage? Bankrate's Kristin Arnold explains the difference and shares what you ...
  3. Do you qualify for a jumbo mortgage?
    Many lenders are offering jumbo mortgage now, but requirements are stricter.
  4. Jumbo Mortgages: Low Rates, Strict Terms |
    May 1, 2012 ... "But the spread between (the interest rate on) a conforming mortgage and a jumbo mortgage is certainly coming closer," Auerbach says.
  5. How to Get a Jumbo Mortgage Now -
    Aug 27, 2012 ... For home buyers eager to snap up luxury homes at low interest rates, lenders are bringing back the supersized loan. Here's what you need to ...
  6. Jumbo Mortgage Rates | Super Jumbo Refinance & Mortgage Loans
    Get the best current jumbo mortgage rate quote. Learn more about super jumbo mortgage loans (e.g. in California but also nationwide).
  7. Here's The Whole Truth On Jumbo Mortgages - Business Insider
    Jan 10, 2011 ... Wealthy homeowners who take out a jumbo mortgage to buy a high-end property must navigate a different rule book, but the terms are ...
  8. Jumbo Mortgages : Mortgage Rates Now Ultra-Low, Guidelines ...
    Mar 19, 2012 ... A good super-jumbo mortgage, even tougher ... When you find a good jumbo mortgage, though, the rewards are great -- low mortgage rates ...