A Jumbo 15-Year Fixed mortgage is a loan designed for financing high-value properties that exceed the limits set by the Federal Housing Finance Agency (FHFA) for conventional loans. Key features include:
- Loan amounts above the conforming loan limits
- Fixed interest rate for the entire 15-year term
- Consistent monthly payments throughout the loan
- Faster equity building compared to 30-year loans
- Typically requires excellent credit and strong financial profile