Finance
In Tennessee, a 'jumbo loan' is a mortgage that:
AExceeds the conforming loan limits set by Fannie Mae/Freddie Mac✓ Correct
BIs insured by the FHA
CIs available only to first-time buyers
DHas a term greater than 30 years
Explanation
A jumbo loan exceeds the conforming loan limits established by FHFA for Fannie Mae and Freddie Mac. Jumbo loans typically require higher credit scores, larger down payments, and carry higher interest rates.
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