Finance
A 'jumbo loan' in Georgia is one that:
AHas a large balloon payment
BExceeds the conforming loan limit set by FHFA✓ Correct
CHas a term longer than 30 years
DRequires no down payment
Explanation
A jumbo loan exceeds the conforming loan limit set by the Federal Housing Finance Agency (FHFA), making it ineligible for purchase by Fannie Mae or Freddie Mac. Jumbo loans typically require stronger credit and higher down payments.
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