Jumbo Loans surpass conventional loan limits set by Fannie Mae and Freddie Mac, offering competitive mortgage rates for borrowers with strong credit. They are used primarily for purchasing high-value homes and custom constructions. Loan limits vary by county, defining when a loan qualifies as "jumbo." Despite similarities in the loan process with conventional and government loans, jumbo mortgages often entail stricter requirements, such as larger down payments, higher credit scores, or reserve mandates.