Jumbo Mortgages

With the limit on a single unit for conventional conforming loan amounts currently at $424,100, any mortgage over that amount falls into a jumbo loan and is generally categorized as “Agency Jumbo” or “Jumbo / Portfolio”.  These loans are generally subject to higher restrictions and rates than a conventional conforming mortgage.  Please refer to “New Conventional Loan Limits” below for maximum loan amounts on 2 to 4 unit properties.

Agency jumbo loans are loans, much like conventional conforming loans, are generally available for sale to FNMA and FHLMC; however, they allow for larger loan amounts.  For a single unit, the loan size ranges between $424,101 and $636,150.  Please refer to “New Conventional Loan Limits” below for maximum loan amounts on 2 to 4 unit properties.

Jumbo loans are generally loan amounts greater than the $636,150 for single units, and are most often provided by portfolio lenders.  Please refer to “New Conventional Loan Limits” below for maximum loan amounts on 2 to 4 unit properties.

Cardinal Mortgage represents several lenders in the Tri-State Area that specialize in Jumbo / Portfolio Mortgage Loans.

For more information on Jumbo Loans, contact our office and one of our mortgage experts would be happy to assist you.

New Conventional Loan Limits

Property Type               Conventional             Agency Jumbo            Jumbo

Single Unit:                        $424,100                          $636,150                    Above $636,150

Two Units:                          $543,000                          $814,500                    Above $814,500

Three Units:                       $656,350                          $984,525                    Above $984,525

Four Units:                         $815,650                         $1,223,475              Above $1,223,475