A jumbo mortgage loan is an amount above conventional conforming limits set by the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac. When these limits don’t cover the full loan amount, the loan is a jumbo mortgage.
Jumbo mortgages sometimes require two appraisals instead of one because of the size of the loan.
Standard Mortgage has a product to cover all borrowers, including the jumbo market borrower. This product is available for refinance or new home purchases. SMC Jumbo is designed for creditworthy borrowers in need of a high balance loan at extremely competitive rates.