Definition: The term "mortgage jumbo loan" refers to a type of mortgage loan that exceeds the traditional limits imposed by federal and state government regulations on residential property loans, typically allowing borrowers to take on up to 80% of the original property's market value. This increase in the loan amount allows for larger mortgages with lower interest rates and higher down payments. The term "mortgage jumbo loan" is often used in conjunction with a large mortgage loan that exceeds the traditional limits set by federal regulations, such as those related to housing market conditions, income levels, and creditworthiness. This type of loan can help borrowers finance larger properties or renovations without exceeding their financialζΏεθ½εγ
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