What is a Jumbo loan in Massachusetts?
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What is a Jumbo loan in Massachusetts?
In Massachusetts, a jumbo loan is a type of mortgage that exceeds the conforming loan limits set by the Federal Housing Finance Agency (FHFA). For most areas in Massachusetts, the conforming loan limit is $726,200, but in some high-cost areas like coastal counties, it can be higher, such as $1,089,300. Any loan exceeding these limits is considered a jumbo loan.
What are the current jumbo mortgage rates today?
Current jumbo mortgage rates – May 2025
| Product | Interest Rate | APR |
|---|---|---|
| 30-Year Fixed Rate Jumbo | 6.73% | 6.76% |
| 15-Year Fixed Rate Jumbo | 6.32% | 6.40% |
| 30-Year Fixed Rate | 6.85% | 6.91% |
| 15-Year Fixed Rate | 6.11% | 6.20% |
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