You might discover that you need a jumbo loan when you buy a luxury home, or an ordinary home in an expensive market. If that’s the case, this calculator is for you.
A jumbo loan is a mortgage that’s too big to be guaranteed in full by home loan leaders Fannie Mae and Freddie Mac. The quantity varies by county. It’s higher in counties where housing is high priced. In 2020, the loan that is jumbo ranges from $510,400 to $765,600. (más…)