The Ticker
Differences between jumbos, conforming loans evaporate
3/11/13 1:31pm
Now that jumbo loan rates are making a comeback, the differences between a jumbo loan and a conforming loan are beginning to disappear, especially when looking at the rate, CNBC said.
Conforming loans are mostly backed by Fannie Mae and Freddie Mac and are valued up to $417,000. However, some can be as high as $625,500. A jumbo loan is anything above that amount, CNBC stated.
