A jumbo mortgage loan is a loan that is "non-conforming" to the loan amount limits set by Fannie Mae and Freddie Mac. A jumbo loan would be ideal if your home loan or purchase price is over $417,000 for a single family, 1 unit property. Anything over the conforming loan limits for 2-unit properties are $533,850, 3-unit properties are $645,300 and 4-unit properties are $801,950, and would require a Jumbo mortgage loan.