Jumbo Loans – For Bigger Appetites!
How are Jumbo Loans different?
Things to Know For Jumbo Loans
- The classification of a jumbo loan is determined by the loan amount. The Federal Housing Finance Agency (FHFA) defines loan limits each calendar year and even $1 over that limit is defined as a jumbo loan.
- Jumbo loans are often referred to as “non-conforming or non-agency” loans because they fall outside of the FHFA limits. They are also called “portfolio” loans since investors usually keep these loans in their own books.
- At Valley View, we underwrite our jumbo loans in-house, giving us full control of the timeline. Most other lenders and 100% of all brokers need to send your jumbo loan directly to the investor for a decision.