In most cases, if you’re buying a home at a price that’s relatively comparable to other homes in the area, you’ll be able to get what’s called a “conforming” loan. FHA loans and Conventional loans are both conforming loans, for example. These loans must fall within a price limit set by the Federal Housing Finance Administration (FHFA) — hence the name “conforming.” For 2021, those limits are $548,250 for most areas, and $822,375 for the highest-price areas like San Francisco or New York. If the home you’re looking to purchase exceeds the limit for your area, you won’t be able to get a conforming loan like a Conventional or FHA loan. That’s where Jumbo Loans come in. They’re loans issued by private companies like Better Mortgage, and aren’t backed by the government. As a result, there are differences in things like mortgage insurance requirements, debt-to-income requirements, and loan-to-value ratio requirements.