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Misc
March 20. 2019
Jumbo Loan
Word of the day
Jumbo Loan
A residential mortgage loan that exceeds the loan amounts acceptable for sale to Fred¬die Mac and Fannie Mae. Also called nonconforming loans, they may carry higher interest rates and require a larger down payment. As such, they must be packaged and sold differently to underwriters.
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Written by
John Reilly
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