Jumbo loan
Also called: non-conforming loan
A mortgage larger than the conforming limit for its county, underwritten to the lender’s own standards.
Because a jumbo cannot be sold into the agency market, the lender holds more of the risk and sets the guidelines. That commonly means more reserves, tighter credit, and more documentation than a conforming file of the same size would need.
Whether a loan is jumbo depends on the county limit, not on whether the house feels expensive.
Related terms
- Conforming loanA conventional mortgage that fits the size and eligibility rules the major agencies will buy.
- Conventional loanA mortgage not insured or guaranteed by a government program such as FHA, VA, or USDA.
- ReservesLiquid assets left after closing, measured in how many months of the full housing payment they would cover.
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Loan information is provided by Ondo Real Estate (NMLS ID on file). This is not a commitment to lend, a loan approval, or an offer of credit. Rates, terms, and payments shown are estimates for illustration only, are not a quote, and are subject to credit approval, underwriting, and market conditions. You are not required to use Ondo for financing to buy or sell with Ondo. Equal Housing Lender. Program rules, fees, and county loan limits change. Confirm the current published schedule and lender overlays. Nothing here is a quote, a lock, or a credit decision. Licensing and disclosures