A jumbo loan is a type of mortgage loan that exceeds the limits set by government-sponsored enterprises (GSEs) like Fannie Mae and Freddie Mac. These limits are established to standardize mortgage lending and ensure liquidity in the housing market. In most areas of the United States, the maximum conforming loan limit for a single-family home is $548,250 as of 2021.
In high-cost areas like California, where housing prices are generally higher, the conforming loan limits are higher as well.
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