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Jumbo loan limits by state. Jumbo loan limits don’t always vary by state; they vary by the counties within those states. To determine whether you need a jumbo loan, start by looking at the state ...
What Is the Jumbo Loan Limit for 2024? The 2024 FHFA loan limit for a single-family home is $766,550 in most of the U.S., and $1,149,825 in high-priced areas like Alaska and Hawaii.
The table below provides state-by-state conforming loan limits for 2024. In many states, the limits vary by county, depending on how high-cost the real estate market is there. Loan limits by state
In the United States, a jumbo mortgage is a mortgage loan that may have high credit quality, but is in an amount above conventional conforming loan limits. [1] This standard is set by the two government-sponsored enterprises (GSE), Fannie Mae and Freddie Mac, and sets the limit on the maximum value of any individual mortgage they will purchase from a lender.
In general, any loan that does not meet guidelines is a non-conforming loan. A loan that does not meet guidelines specifically because the loan origination amount exceeds the guideline limits during its acquisition year is known as a jumbo loan. [1]
In the United States, a super jumbo mortgage is a jumbo mortgage that far exceeds the conforming loan limits. These are typically 4 times the maximum loan amount set by Fannie Mae or Freddie Mac which as of 2024 [update] was $766,551. [ 1 ]
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