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| Mortgage Adviser |
Some jumbo mortgages are called super jumbo mortgages, which means they are anywhere from $650,000 to $20 million or more. There is also a relatively new loan called a conforming jumbo loan, referring to loans which are between $417,001 and $625,500 for a conventional loan, or $417,001 and $729,750 for an FHA loan.
It is possible to avoid getting a jumbo mortgage by getting a first mortgage and second mortgage at the same time. If you choose to go this route, just make sure your combined rate is lower than the jumbo loan, and do not forget to consider closing costs for two loans.
Source : https://migonline.com