What Is A Jumbo Loan
| Money : Borrowing Most people when they want to borrow a large sum of money for their house will take out a mortgage. However sometimes something called a jumbo loan comes into play. A jumbo loan is actually very descriptive, because it is exactly that - a (very) large loan! Typically this will be a loan in the US over the amount of $252,700 at last check. These clearly won't be suitable for most people in most circumstances, however if you heard it mentioned, then that is what a jumbo loan refers to.
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