Scott Buehler Veritas Funding
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Jumbo Loans

Home Loans Beyond Conforming Limits

As home prices continue to skyrocket, and the need for people to have their dreams homes with a lot of space, there is more for people to acquire a Jumbo loan. The rules and requirements for Jumbo loans are different than conventional loans and as such it is good to get educated about what Jumbo loans are and what you need to know about them before you apply for one.

How big is a Jumbo loan?

Probably the most asked question is when a conventional loan becomes a Jumbo loan. The FHFA (Federal Housing Finance Agency) determines this with a number of factors.

The loan limit for conforming loans varies by county because some real estate markets are much pricier than others. For 2020, the conforming loan limit for one-unit homes in most counties nationwide is $510,400. However, in “high-cost areas,” especially in the Northeast and on the West Coast, conforming loan limits are expanded to $765,600 — and even higher in a few other places.

What is a Jumbo loan?

Also called non-conforming conventional mortgages, jumbo loans are considered riskier for lenders because these loans can’t be guaranteed by Fannie Mae and Freddie Mac, meaning the lender is not protected from losses if a borrower defaults. Jumbo loans are typically available with either a fixed interest rate or an adjustable rate, and they come with a variety of terms.

How do I qualify for a Jumbo home loan?

Ask Scott to see if you qualify and to find out current rates.

Do I Qualify?

There's a lot that goes into qualifying for a home loan. Factors such as credit score, debt, income and more play a huge part of the decision making process. Consider taking my questionnaire and we'll discuss your mortgage options.

Loan Programs

First Time Homebuyer

Want a clearer picture of the home buying process? Tap the book below to download my 14-page first time homebuyer booklet.

Scott Buehler Homebuyer Book
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