What are typical jumbo loan. Using a mortgage calculator can help you determine your maximum loan amount.
The maximum amount for a conforming loan in 2024 is $766,550 in most counties, as determined by the federal housing finance agency (fhfa). Overall, a loan is considered a jumbo loan if it exceeds $726,000 in 2023 or $766,550 in 2024.
How Much Jumbo Loan Can You Afford?
Borrowers should have a minimum 680 credit score for 95% financing.
A Home Above This Limit May Require A Jumbo Loan.
For 2024, the upper limit is $766,550 to $1,149,825, depending on location.
Images References :
The Chart Below Shows 2024 Jumbo Loan Limits In The U.s.
Buyers can look up their state and county loan limits below.
Mortgage Interest Rates Today, June 12, 2024:
Jumbo loans are mortgages with loan amounts that exceed local conforming loan limits.