Finance
A jumbo loan in Oklahoma is a mortgage that:
ARequires a jumbo down payment of 50%
BExceeds the conforming loan limits set by FHFA✓ Correct
CIs only available for commercial properties
DIs a second mortgage in addition to a conforming first
Explanation
A jumbo loan exceeds the conforming loan limits established by the Federal Housing Finance Agency (FHFA). These loans cannot be sold to Fannie Mae or Freddie Mac and typically require higher credit scores and larger down payments.
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