Jumbo Mortgages are those mortgages with loan amounts greater than $417,000, according to Fannie Mae and Freddie Mac.  The Stimulus Package has temporarily increased loan limits to $729,450 in certain zip codes and counties where luxury homes and an affluent lifestyle are found.  This may include California, Hawaii, New York, Colorado, Virginia and other high cost areas. 

Super Jumbos may be mortgage loan amounts larger than $750,000, although some lenders classify only those loans over $1 Million as "SuperJumbo". 

Yet, Luxury Loans are a state of mind, rather than a dollar amount, with loans to $10 million.  Luxury loans and jumbo mortgages are offered at competitive rates, sometimes with a NO DOC or stated income component.  They are available to the foreign national and visa holder, as well as the US domestic borrower.

For refinances and cash-outs of primary residences, second homes, and investment properties, guidelines are available at www.JumboCashout.com.