A "Jumbo" mortgage is any loan that exceeds the $453,100 "conforming" loan limit set forth by Fannie Mae (FNMA) or Freddie Mac (FHMLC). If you are trying to borrow more than this amount, you will have to meet a more stringent set of standards, and ordinarily have to pay a slightly higher interest rate.

​

The jumbo interest rates are ordinarily higher because of the historically higher delinquency rates associated with these particular loans. But, in the simplest terms, as one would expect, the more you put down and the higher your credit score, the better your interest rate will be.