---
title: Jumbo Loans
description: Loan amounts that exceed the national conforming loan limit are called Jumbo loans.
image: https://blog.homelend.net/hubfs/large-home-389271_1280.jpg
---
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© 2019
[HomeLend](https://blog.homelend.net/blog/author/homelend) |
[November 27, 2019](https://blog.homelend.net/blog/archive/2019/11/27) |
[04:31 PM](https://blog.homelend.net/blog/2019/11/jumbo-loans) |
[0](https://blog.homelend.net/blog/2019/11/jumbo-loans#comments-listing) comments
# Jumbo Loans
The Federal Housing Finance Agency (FHFA) sets a baseline loan limit across the country.
## What is a Jumbo Loan?
The Federal Housing Finance Agency (FHFA) sets a baseline loan limit across the country. Loan amounts that fall within this limit are considered “Conforming” and are eligible to be for purchase by Fannie Mae and Freddie Mac.
Loan amounts that exceed this loan limit are called Jumbo loans. These loans are not purchased by Fannie Mae or Freddie Mac. They are typically “portfolio” loans for large banks and hence have stricter qualifying guidelines and higher rates.
The current conforming loan limits are changing to $647,200 and $970,800 in high balance areas.
### Jumbos include:
- Fixed-rate or adjustable-rate options
- No PMI
- Higher rates
- Strict guidelines
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[Home Buying](https://blog.homelend.net/blog/tag/home-buying) [jumbo loans](https://blog.homelend.net/blog/tag/jumbo-loans) [home loan](https://blog.homelend.net/blog/tag/home-loan) [mortgages](https://blog.homelend.net/blog/tag/mortgages) [new home](https://blog.homelend.net/blog/tag/new-home) [Borrowing 101](https://blog.homelend.net/blog/tag/101)
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