Jumbo Loans

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This type of loan is a mortgage for an amount above and beyond the fannie mae conforming loan limits of $417,000 (Maryland, US, 2007). Therefore, a mortgage for $417,001 would be considered a jumbo loan in accordance with fannie mae guidelines. Note, these guidelines are subject to change at any time by the governing agency.  Interest rates for these jumbo loans are typically slightly higher than your conforming loan amount below jumbo loan the threshold due to the increased risk incurred by the lending institution to lend such a substantial amount of money.