Jumbo loan

Jumbo loan

A mortgage loan for an amount greater than the limits set by Fannie Mae and Freddie Mac. Often called non-conforming loans.

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Part of Speech: noun
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Blossary:
Industry/Domain: Real estate
Category: General
Company: Coldwell Banker
Product:
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jumbo loan

Financial services; General Finance

Loans of $1 billion or more. Or, loans that exceed the statutory size limit eligible for purchase or securitization by the federal agencies.

jumbo loan

Real estate; General

A loan which is larger than the limits set by the FNMA and FHLMC (more than $207,000 as of 1/1/96). Because jumbo loans cannot be funded by these two agencies, they usually carry ...

jumbo loan

Real estate; General

A mortgage loan for an amount greater than the limits set by Fannie Mae and Freddie Mac. Often called non-conforming loans.

loan

Banking; Investment banking

A specified sum of money lent by a creditor or lender (e.g. a bank) to a person or entity and repayable at a predetermined due date or after notice of repayment is given. See also ...

loan

Economy; International economics

An amount, usually of money, conveyed by one to another in the expectation that it will be returned, perhaps with specified interest, at a later date. When the lender and borrower ...

loan

Accounting; Auditing

Written or oral agreement for a temporary transfer of a property (usually cash) from its owner (the lender) to a borrower who promises to return it according to the terms of the ...

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