the distinction between jumbo and super jumbo is also based upon the amount of the loan. Lenders internally determine where they set classifications. In many parts of the country $1,000,000 is the demarcation line, but in wealthy areas the floor for super jumbo might be closer to $1,500,000 or $2,000,000.
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Super Jumbo Loan Rates | Thekentuckycenter – Super Jumbo Loan – Five Stars Mortgage Loan – A Super Jumbo Loan is a mortgage that can be defined differently depending on the lender or bank. At Five Stars we consider a super Jumbo loan anything over $3.0 mil. This means that our super jumbo mortgage program goes from $3.0- $20mil.
A Jumbo loan is a mortgage that can exceed Fannie Mae and Freddie Mac’s conforming loan limits of $484,350, or up to $726,525 in some high-cost areas. Also known as non-conforming loans, Jumbo loans and Super Jumbo loans offer the flexibility of borrowing with less restrictions.
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A Jumbo mortgage is any loan amount above the national conforming loan limit, which is $424,100 in 2017 for most areas, but can be more in some high-cost markets.
Any loan amount above those limits is considered a "jumbo" mortgage and has higher rates compared to loans at or below the $417,000 conforming limit.
Jumbo and Super Jumbo Mortgage Loans As an experienced jumbo and super jumbo mortgage lender, we offer a variety of programs with competitive rates and beneficial features. Fixed rate, adjustable rate, and interest-only payment options are available.
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