Finance
In Kansas, what is a 'jumbo loan'?
AA loan for a property larger than 5 acres
BA loan that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac✓ Correct
CA loan with more than 3 borrowers on the note
DA government-backed loan for multi-family properties
Explanation
A jumbo loan exceeds the conforming loan limits established by FHFA for purchase by Fannie Mae and Freddie Mac. Jumbo loans typically require stronger credit and larger down payments.
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