Jumbo to Conforming glossary
Key terms
Crossover answer
These terms come up when refinancing from jumbo to conforming, each with a primary source.
Last reviewed against the primary sources listed below.
- Conforming loan limit
- The yearly maximum loan size Fannie Mae and Freddie Mac can buy, by county. Source: FHFA: Conforming loan limit values
- High-cost area
- A county where the conforming limit is set higher because of home prices. Source: FHFA: Conforming loan limit values
- Loan-to-value
- The loan amount divided by the home's value. Source: CFPB: What is a loan-to-value ratio and how does it relate to my costs?
- Rate-and-term refinance
- A refinance that replaces the loan without taking cash out. Source: Fannie Mae Selling Guide B2-1.3-02: Limited cash-out refinance