Finance
In Maryland, a 'jumbo loan' refers to a mortgage that:
AExceeds FHA loan limits
BExceeds the conforming loan limit set by FHFA✓ Correct
CHas an interest rate above 8%
DIs used for commercial properties only
Explanation
A jumbo loan exceeds the conforming loan limit set by the Federal Housing Finance Agency (FHFA), which determines whether a loan can be purchased by Fannie Mae or Freddie Mac.
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