30-year jumbo mortgage
30-year jumbo mortgage
A 30-year jumbo mortgage has two defining characteristics. First, the mortgage loan's maturity period is 30 years. Secondly, the mortgage loan amount exceeds the maximum loan size that government-chartered agencies Fannie Mae and Freddie Mac can purchase or guarantee. Because Fannie Mae and Freddie Mac don't support jumbo mortgages, these loans usually carry higher interest rates. Jumbo loan limits are set annually based on housing values.
6.05
