Glossary
Jumbo loan
A non-conforming first mortgage above the FHFA conforming loan limit; pricing and underwriting differ from agency-conforming products.
Jumbo loans exceed the GSE conforming limit ($806,500 baseline 1-unit for 2025) and are not eligible for delivery to Fannie Mae or Freddie Mac. Pricing and overlays vary by investor; common requirements include higher minimum FICO, lower maximum LTV, and reserves measured in months of housing payments.