Most mortgages in the industry are considered conforming loans, which is to say that these loans conform to federal guidelines. In general, conforming mortgages only include home loans that are valued at up to $417,000 (however, in some states, conforming loans can be up to $636,150). Conforming loans fall under government sponsored enterprise guidelines that are created by Fannie Mae and Freddie Mac — two government enterprises which back the mortgage market by buying conforming loans. Now you may be asking yourself, what’s the difference between super jumbo mortgages and traditional conforming loans? Well, we have the answer so that you can better understand what super jumbo mortgages are, and how mortgage lenders determine the rates that they offer for their super jumbo loans.

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