jumbo loan
A mortgage loan that's too large to be guaranteed by the Federal Housing Administration and which usually comes with a higher interest rate as a result. Compare: conforming loan
Category: Personal Finance & Retirement
Category: Real Estate & Rental Property → Buying a House

Nolo’s Plain-English Law Dictionary. . 2009.

Look at other dictionaries:

  • Jumbo loan — Loans of $1 billion or more. Or, loans that exceed the statutory size limit eligible for purchase or securitization by the federal agencies. The New York Times Financial Glossary * * * jumbo loan UK US noun [C] (also jumbo mortgage) FINANCE,… …   Financial and business terms

  • jumbo loan — loans of $1 billion or more. Or, loans that exceed the statutory size limit eligible for purchase or securitization by the federal agencies. Bloomberg Financial Dictionary * * * jumbo loan UK US noun [C] (also jumbo mortgage) FINANCE, PROPERTY ►… …   Financial and business terms

  • Jumbo Loan — A mortgage with a loan amount exceeding the conforming loan limits set by the Office of Federal Housing Enterprise Oversight (OFHEO), and therefore, not eligible to be purchased, guaranteed or securitized by Fannie Mae or Freddie Mac. OFHEO sets… …   Investment dictionary

  • Jumbo mortgage — In the United States, a jumbo mortgage is a mortgage with a loan amount above the industry standard definition of conventional conforming loan limits. This standard is set by the two largest secondary market lenders, Fannie Mae and Freddie Mac.… …   Wikipedia

  • Loan modification in the United States — Loan modification, the systematic alteration of contactual mortgage loan agreements, has been practiced in the United States since the 1930s. During the Great Depression loan modification programs took place at the state level in an effort to… …   Wikipedia

  • Jumbo (disambiguation) — Jumbo was a famous 19th century circus elephant, and jumbo is now an adjective for big or huge .Jumbo may also refer to: *Jumbo, Zimbabwe, a village *Jumbo (British band), UK band merged with the Tremeloes *Jumbo (band), a Mexican rock band… …   Wikipedia

  • Jumbo Mortgage Loan — (большие ипотечные кредиты) ипотечные кредиты, обладающие, как правило, всеми свойствами первоклассных ипотечных кредитов, предельно допустимый размер которых установлен программами Ginnie Mae, Fannie Mae и Freddie Mac …   Ипотека. Словарь терминов

  • Super jumbo mortgage — A Super Jumbo Mortgage is classified as a residential mortgage or other home equity secured loan in an amount greater than $650,000, although lenders differ on just what constitutes a super jumbo mortgage subject to their own internal investment… …   Wikipedia

  • Conforming loan — In the United States, a conforming loan is a mortgage loan that conforms to GSE guidelines.[1] In general, any loan which does not meet guidelines is a non conforming loan. A loan which does not meet guidelines specifically because the loan… …   Wikipedia

  • conforming loan — A mortgage loan small enough to be bought by Fannie Mae or guaranteed by the Federal Housing Administration. The dollar limit on conforming loans is adjusted periodically and is higher in areas with a high cost of living. Compare: jumbo loan… …   Law dictionary

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