What Is a Jumbo Loan?

U.S. News breaks down jumbo mortgages: how conforming loan limits define them, the stricter credit score, debt-to-income, cash reserve, and down payment requirements lenders impose, and how rates compare with conforming loans. Ryan Cicchelli of Generations Insurance & Financial Services explains the appeal of larger purchases, how lenders tightened standards after 2020, and why shopping around matters when rates run 0.25% to 1% higher.