Mortgages larger than the limits set by Fannie Mae and Freddie Mac ($275,000 this year; $379,050 in Alaska and Hawaii). A jumbo mortgage will carry a higher interest rate than a conventional mortgage.
Mortgages larger than the limits set by Fannie Mae and Freddie Mac, typically carrying a slightly higher interest rate.
are loans for more than $333,700. The interest rate is usually a quarter of a percentage point higher than on conventional loans.