Fannie Mae and Freddie Mac establish their own maximum loan limits. Historically, the limits were determined annually based upon the previous year's median home price. For example, a maximum loan limit was $107,000 in 1982, $202,300 in 1995 and up to $417,000 in 2006 where it remains today.
http://www.military.com/money/va-loans/home-purchase/va-jumbo-loan.html
While there might be some argument, a true “super jumbo loan” is any loan amount above $650,000, ranging up to $20 million or higher. This term is probably used incorrectly on a daily basis, depending on the state in which the overzealous loan officer resides.
http://www.thetruthaboutmortgage.com/jumbo-mortgage-loans/
The interest rate charged on jumbo mortgage loans is generally higher than a loan that is conforming, due to the higher risk to the lender. The spread, or difference between the two rates, depends on the current market price of risk.
https://en.wikipedia.org/wiki/Jumbo_mortgage
When FNMA and FHLMC limits don't cover the full loan amount, the loan is referred to as a jumbo mortgage. Traditionally, the interest rates on jumbo mortgages are higher than for conforming mortgages, however with GSE fees increasing, Jumbo loans have recently seen lower interest rates than conforming loans.
https://en.wikipedia.org/wiki/Jumbo_mortgage
A “jumbo mortgage” is any single loan amount over the conforming loan limit (set by the Federal Housing Finance Agency), which is currently set at $417,000 for a one unit property in the contiguous United States. So if your loan amount is $417,001 or higher, your loan is considered jumbo. However, it should be noted that there are different jumbo limits depending on both the number of units on the property, along with where the property is located.
http://www.thetruthaboutmortgage.com/jumbo-mortgage-loans/
The VA issues a guarantee to a VA lender that represents 25 percent of the loan amount, or four times the available entitlement. Today, that entitlement amount is $36,000 for a guarantee of 25 percent of $144,000.
http://www.military.com/money/va-loans/home-purchase/va-jumbo-loan.html
In the United States, a jumbo mortgage is a mortgage loan that may have high credit quality, but is in an amount above conventional conforming loan limits.
https://en.wikipedia.org/wiki/Jumbo_mortgage
Any loan amount above those limits is considered a jumbo mortgage and has higher rates compared to loans at or below the $417,000 conforming limit. Regardless of the loan limit, conventional mortgages require a down payment while VA loans do not. As long as the VA loan is no greater than $417,000 or $625,000 in VA's high cost areas, the veteran is required to have no money down in order to obtain the VA home loan.
http://www.military.com/money/va-loans/home-purchase/va-jumbo-loan.html
The difference may only be .25% – .50% higher, or borrowers may just lose out on any lender credit offered for a conforming loan amount. Most mortgage lenders offer the same loan programs for jumbo loans as they do for conforming loans, such as fixed-rate loans, ARMs, and interest-only home loans.
http://www.thetruthaboutmortgage.com/jumbo-mortgage-loans/
As of 2010, the limit on a conforming loan in general areas was $417,000 for most of the US, apart from Alaska, Hawaii, Guam, and the U.S. Virgin Islands, where the limit was $625,500. The limit in high cost areas was $729,750 and $938,250, respectively.
https://en.wikipedia.org/wiki/Jumbo_mortgage
what amount is considered a jumbo loan
Amount of $417,000 is considered as a jumbo loan. The amount $417,000 is considered a jumbo loan. A jumbo loan is considered $650,000, ranging up to $20 million or higher. The amount $650,000, ranging up to $20 million or higher is considered a jumbo loan. $417,000 loan is considered as a jumbo loan.