Jumbo Loan
Lending & MortgagesA mortgage that exceeds conforming loan limits set by Fannie Mae and Freddie Mac, requiring stricter qualification.
Example
Example: Suppose you take out a $300,000 30-year fixed mortgage at 6.5%. Understanding jumbo loan helps you see how your monthly payment of approximately $1,896 is structured — and how this concept affects your total cost over the life of the loan. Use our mortgage calculator to see how jumbo loan impacts your specific situation.