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What is the current jumbo loan limit?

I spoke to a Chase mortgage rep to day about refinancing my loan and he said the jumbo loan limit is $417k.

However, bankrate.com shows that for California, the limit is $625,500.

Thanks.
  • January 12 2012 - Dublin
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Answers (12)

Dublin there are two limits within conventional financing before elevating to jumbo. The conforming limit for high cost areas in California is $417,000. And the high balance limit is $625,500. Jumbo is anything over $625,501 and over. We offer jumbo financing up to $10MM. And over with strong compensating factors. Hope this answers your questions.
  • February 23 2014
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The conforming loan limit is $417000 with expanded loan amounts in high cost areas known as high balance or super conforming loans.   Above that you move into the jumbo mortgage home loan category.
  • August 18 2013
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Lot of interesting comments, although it is real simple, and easy to do for any reputable mortgage bank, and competent loan officer:
$417,000 or less is the conforming conventional loan limit, best rate.
Up to $625,500 is the high balance conventional loan limit, rate a little higher.  Over $625,500 is a non-conforming loan or Jumbo, rates vary, should be good as high balance or better.  Call if you want to discuss, I originate in California only and specialize in the bay area.
  • August 16 2013
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Hi dublin res

when you say jumbo loan its mean non agency loan .
confirming loan is 417k
hi balance is 625500 which some county is California  is referrer to a hi cost area.
anything beyond that which we call jumbo loan. 

Omar Khamisa
Mortgage Loan Manager
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  • August 16 2013
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99% of the country, the conforming loan limit is $417,000.  There are a small number of "High Cost" areas, where the limit is higher.  You can check by going to [spam content removed by Zillow moderator due to violation of Good Neighbor Policy] - Input your area, and under Limit Type, select Fannie/Freddie.
  • August 02 2013
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Depends on the county
========================
It depends on the lender. I can only speak for myself but we have overlap.

Conventional conforming loans will go to $417,000 in most counties though up to $625,500 in others whereas jumbo (i.e conventional non-conforming) loans will start at above $417,000 in every US county. Therefore there is some overlap.

  • August 01 2013
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If the county shows that the jumbo loan starts at $625K then your loan would be concidered a " super conforming" loan and/or " high balance. There may be more fees involved and depending on the loan to value.

General rule of thumb is anything over $417K is a jumbo but the Chase rep you spoke to obviously is not diverse in the knowledge of mortgages.
  • August 01 2013
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  • August 01 2013
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So that would mean the Chase rep is incompetent in at least two jobs now.
  • January 13 2012
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The Chase rep is wrong. The limit of $417K is regular confirming loan. Jumbo loan is a loan that is greater than $625,000 (up to 3 million dollars).

A loan between $417,000 and $625,000 is called agency jumbo.  Hope it helps.
  • January 12 2012
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The conforming limit in Alameda county is $625,500. The FHA limit is $729,750. The Chase rep you spoke with most like worked at Wendy's last week as the fry guy so don't put too much weight in what was said.
  • January 12 2012
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You are looking for the high balance limits which will vary county to county...Shockingly bankrate looks about right to me but I do not lend in CA.

  • January 12 2012
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