Phoenix Jumbo Loan: Anything above $453,100

By definition, a “jumbo” mortgage loan is one that exceeds the size limits used by Freddie Mac and Fannie Mae. These “oversized” home loans are essentially too big to be sold into the secondary mortgage market via Freddie Mac or Fannie Mae. As a result of the higher amount being borrowed, some lenders have stricter qualification criteria for jumbo mortgage loans.

In Phoenix, a jumbo loan is anything larger than $453,100, for a one-unit property.

In November 2017, the Federal Housing Finance Agency (FHFA) announced that it was going to increase conforming loan limits for most counties across the United States. The limits were raised for all but 71 counties, in response to significant home-price gains that occurred during 2017. This means that the conforming limit and jumbo loan threshold for Phoenix, Arizona will be higher in 2018 than it was in 2017.

Here are the 2018 conforming loan limits for Maricopa County in 2018:

One-unit     Two-unit      Three-unit      Four-unit

$453,100    $580,150     $701,250      $871,450

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