A jumbo mortgage, or jumbo loan, is a home loan for an amount that exceeds the conforming loan limit set on mortgages eligible for purchase by Fannie Mae and Freddie Mac, the government-sponsored enterprises that ultimately buy and administer most single family-home mortgages in the United States.

Conforming loan limits cap the dollar value that can be backed by government-sponsored programs. A jumbo mortgage exceeds these conforming loan limits, which are tied to local median home values. Qualifications for these loans are more stringent and the loans themselves are manually underwritten to mitigate risk to the lender.