Quote:
Originally Posted by RickFLM4
I think jumbo refers to any loan above the Fannie Mae / FHLMC limits to purchase the loans, which I believe vary by location.
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Yeah, that is probably the typical definition. I know my local CU use different bands/definitions than Freddie/Fannie. At least one of them just gives better rates the higher you go (but cap out in decreases before getting to Jumbo status)