Jumbo loans are normally for loans above the Fannie Mae / Freddie Mac loan conforming loan limits, which are based on location and type of property. In the DC metro area and other very large cities, that represents loans above $636,150. In certain circumstances, Jumbo loans are preferred for lower loan amounts when special pricing or program guidelines exist. In general, Jumbo loans typically have higher interest rates, more restrictive down payments, higher FICO credit score requirements.
Along with offering great rates, Oak Hill Mortgage, LLC has access to Jumbo loan programs that banks and other institutions don’t offer.