A Jumbo Mortgage is a larger home loan, usually used to finance the purchase of a bigger or higher-value property.

A Jumbo Mortgage is a home loan that exceeds the conforming loan limit set by the Federal Housing Finance Agency (FHFA). Conforming loans can be purchased by Fannie Mae and Freddie Mac, but Jumbo loans cannot, which is why they’re considered non-conforming.

For 2025, the conforming loan limit in Freedom Credit Union’s service area is $806,500. Any mortgage amount above $806,500 is classified as a Jumbo Loan.

Jumbo Mortgages are generally considered higher-risk loans than smaller conforming mortgages and typically have higher interest rates. Jumbo Mortgage eligibility requirements may include a higher credit score, a lower debt-to-income ratio, or a larger down payment.

Freedom Credit Union only offers fixed-rate Jumbo Mortgages.

You can apply for a Jumbo Mortgage in the same way as you do for a regular mortgage from Freedom Credit Union. Depending on the purchase price, you will need to show you can support the additional borrowing with bank statements or other evidence of a stable income. Lenders will usually look for a lower debt-to-income level than for a conforming loan. You may also need a higher credit score and be willing to put more money down to qualify for a jumbo loan.