Kings Deer Colorado Springs 80921 Jumbo Home Loan Mortgage Guide For Colorado Real Estate
By Kevin A. Guttman-Author, ReverseMortgageSpecialist, 877-251-9709
(NMLS #384936)
What is a Colorado Home Real Estate Jumbo Mortgage? For most counties, a jumbo loan is a mortgage of more than $417,000. Jumbo mortgages tend to be used for large, single-family homes. Qualifying for a jumbo loan is tougher than for a conventional loan. Looking to buy a larger, luxurious abode? A jumbo mortgage may be right for you. What is a jumbo mortgage? A jumbo mortgage is a home loan with an amount that exceeds conforming loan limits imposed by Fannie Mae and Freddie Mac, the two government-sponsored enterprises that buy mortgages from lenders. The limit is $417,000 in most parts of the United States, but is $625,500 in the highest-cost areas and in-between in others. There are roughly 3,300 counties in the United States, and out of those, approximately 100 (counties) are elig...
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