Glossary

What is Conforming Loan Limit?

DefinitionThe maximum loan size Fannie Mae and Freddie Mac will buy, set yearly by the FHFA and higher in high-cost counties. Loans above it are jumbo loans.

Where it matters

Home loan

Jumbo Loans

A jumbo loan is a mortgage larger than the FHFA conforming loan limit for your county, used for higher-priced homes.

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Related terms

1031 Exchange
Amortization
Appraisal
APR (Annual Percentage Rate)
ARM (Adjustable-Rate Mortgage)
ARV (After-Repair Value)
Asset Depletion
Assumable Mortgage
Balloon Payment
Bank Statement Loan
Blanket Loan
BRRRR
Cap Rate
Cash to Close

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