A Jumbo Loan is any loan to purchase or refinance a single-family home, Duplex, Triplex, or Fourplex, with a principal balance that is too large to be bought by Fannie Mae and Freddie Mac. Therefore, a Jumbo Loan is known as a "Non-Conforming Loan." In each Jumbo Loan program offered by different lenders, the down payment, interest rate, and reserve requirements vary depending on your credit score, the property, type of income documentation, and many other relevant factors.