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    Email: joe@twincityhomeloans.com

  • Jumbo Loans (over $484,350)

  • Any home loan in Minnesota, Wisconsin, or South Dakota that will be over the current conforming loan limit of $484,350 is considered a Jumbo Mortgage Loan. The limit may be higher in other states

    This really means that it no longer fits the acceptable loan limits for a Fannie Mae or Freddie Mac conventional loan program, and are also known as non-conforming loans.

    This also means the guidelines change for these large loans.  The two biggest changes over a conforming loan, is jumbo loans have larger down payment requirements, and also have stricter credit score requirements. Current interest rates are similar to conventional loans.