Jumbo Mortgages are loan products not insured or guaranteed by the federal government which exceed conventional conforming loan limits set by Fannie Mae and Freddie Mac.  Private Mortgage Insurance (PMI) may be required for Jumbo mortgages with less than 20% equity, to protect lenders in the event of borrower default.  Jumbo Mortgages can be used to Purchase or Refinance residential properties which will be primary residences, second homes or investment properties.