Finance
In Ohio, a 'jumbo loan' is a mortgage that:
AIs insured by FHA
BExceeds the conforming loan limits set by Fannie Mae and Freddie Mac✓ Correct
CHas a balloon payment at the end of 5 years
DIs available only for commercial properties
Explanation
A jumbo loan exceeds the conforming loan limits established by the FHFA and cannot be purchased by Fannie Mae or Freddie Mac. These loans typically carry stricter underwriting requirements and higher rates.
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