Finance
A New Mexico buyer obtains a 'jumbo loan.' This means the loan amount exceeds:
AThe FHA loan limit
BThe conforming loan limit set by FHFA (Fannie Mae/Freddie Mac)✓ Correct
C$100,000
DThe VA loan limit
Explanation
A jumbo loan exceeds the conforming loan limits set by the FHFA. These loans cannot be sold to Fannie Mae or Freddie Mac and typically require stricter underwriting and larger down payments.
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