Jumbo home loans exceed Fannie Mae and Freddie Mac limits. Ideal for high-end properties, they demand higher credit scores and larger down payments. If you want to purchase a high priced home,then a Jumbo Mortgage or Super Jumbo Loan is tailor made for your needs. They cater to the needs of those people who require loans that are larger than normal. They are convenient; however, their interest rates are slightly higher than those of other loans are. The amount of money that defines a jumbo mortgage loan changes every year.
