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Finance Dictionary and Glossary of Investment Terms
Jumbo Loan
Definition 1.
Any residential or commercial mortgage with a loan amount exceeding the guideline of Fannie Mae and Freddie Mac.
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Definition 2.
Loans of $1 billion or more. Or, loans that exceed the statutory size limit eligible for purchase or securitization by the federal agencies.
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Definition 3.
A loan of $1 billion or more, or a loan which exceeds the size limit set for purchase or securitization by the appropriate agency, such as Fannie Mae or Freddie Mac.
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