A mortgage is considered "Jumbo" when the loan amount exceeds the base conforming loan limit of $484,350 throughout most of the nation. However, most of California is considered a high-cost area and the conforming loan limits are higher - up to $726,525 in some locations like LA and San Francisco. When Fannie Mae and Freddie Mac limits do not cover the full loan amount on high valued homes, the loan is referred to as a “Jumbo” mortgage. Many home buyers still assume a minimum of 20 percent is needed to secure Jumbo financing. Some are not aware that jumbo financing programs (0 comments)