Jumbo Loans

A jumbo loan is a nonconforming loans and ineligible to be sold to Fannie Mae or Freddie Mac. When a lender makes a nonconforming loan, they may hold it in their portfolio or sell it to a private investor. Each year, the FHFA publishes limits for the maximum loan amounts for conforming loans. According to the seasonally adjusted, expanded-data FHFA HPI, house prices increased 7.42 percent, on average, between the third quarters of 2019 and 2020.  Therefore, the baseline maximum CLL in 2021 will increase by the same percentage.

In 2021, you cannot get a conforming loan for an amount larger than $548,250*. In some areas that have been deemed “high cost”, the limit is $822,375. If you want to use a mortgage to purchase a house that costs more than your area’s conforming loan limit you’ll have to get a jumbo loan.

Nonconforming loan requirements are left up to individual lenders, and can vary depending on what type of loan you’re getting. With a jumbo loan, you can expect lenders to have stricter approval requirements than with conforming loans.

*Some counties in Massachusetts have a $724,500 conforming loan amount for a single family.

If you are interested in a jumbo loan

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Our team of dedicated loan experts can answer any questions you may have regarding residential financing, whether you’re a first time home buyer, looking to refinance, or shopping for a second home. We are here to assist you.


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