Jumbo Loans or "non-conforming" loans typically exceed the maximum loan amounts established by Fannie Mae and Freddie Mac. Conventional conforming loan limits are currently $417,000 for a single family home.
Jumbo Loans are typically used to buy more expensive homes and high-end custom construction homes.
Since jumbo loans are held by the lender and not packaged with Fannie Mae and Freddie Mac it becomes much more important to shop different lenders for rates and programs.
Raleigh Mortgage Group, Inc. currently represents a number of lenders offering jumbo products with loan amounts up to $2,000,000.
