Finance
A 'jumbo' mortgage loan is one that:
AHas a 40-year amortization period
BExceeds the conforming loan limits set by Fannie Mae and Freddie Mac✓ Correct
CRequires a minimum 30% down payment
DIs insured by the Federal Housing Administration
Explanation
A jumbo loan exceeds the conforming loan limits established by the Federal Housing Finance Agency (FHFA) for Fannie Mae and Freddie Mac purchases. These limits vary by area and year.
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