Jumbo Loan
A mortgage exceeding the limits of the maximum eligibiliy for purchase set by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corporation (Fannie Mae and Freddie Mac) this was $417,000 in 2008. Because jumbo loans cannot be funded by these two agencies, they usually carry a higher interest rate.
Junk fees
A pejorative term for lender fees that are expressed in dollars rather than as a percent of the loan amount.
