Jumbo
Loans
above the maximum loan amount established by Fannie Mae and Freddie
Mac are known as "jumbo" loans. Because jumbo loans are bought and
sold on a much smaller scale, they often have a slightly higher interest
rate than conforming loans, but these loans are remarkably well priced
now, just over conforming rates, and much lower than they were in 2008.
Jumbo
loans are not as difficult to qualify for as people think. The
Debt-to-Income ratio is typically 36%, but can be higher for well qualified
buyers.