Reviewed by Jeff Shin, NMLS #1041652. Updated .
Also called: jumbo mortgage, non-conforming loan.
Where the jumbo line falls
The line is the conforming loan limit, which FHFA sets each year by county. For 2026, FHFA set the one-unit limit at $832,750 in most counties, with higher limits in high-cost areas. The CFPB describes a jumbo as a conventional loan above that limit, which makes it ineligible for purchase by Fannie Mae or Freddie Mac.
How jumbo rules differ
No agency writes a jumbo rulebook. Each investor sets its own guidelines, so two jumbo lenders can give the same file different answers. Common differences are a larger down payment, more cash reserves after closing, a higher credit minimum, and sometimes a second appraisal on larger loans. Jumbo pricing does not follow the Fannie Mae and Freddie Mac grids, so jumbo rates can land above or below conforming rates depending on the market.
Jumbo vs. high-balance conforming
In high-cost counties, a loan can be above the baseline limit and still be conforming, as long as it stays under that county’s limit. Those high-balance loans follow Fannie Mae and Freddie Mac rules, with added fees. Check your county before you decide which kind of loan you need.
Related terms
Related on BankPricer
Sources
Definitions on this page are summarized from the agencies that set the rules. Lenders can add stricter requirements. Checked October 7, 2026.
Not sure which of these applies to you?
That is usually the actual question. Send the situation rather than the product name — purchase or refinance, primary or investment, price range, and timeline — and you get the structures that fit, with what each one costs.