FHA Loan and Mortgage Glossary - Terms Beginning with 'J'

  • Judgment: This is a legal claim that has been granted by a judge through the court systems that allows a creditor or lender to hold a lien on a property.
  • Jumbo Mortgage Loan: This is a loan that exceeds the conforming loan limit that is set by Fannie Mae. Any loan that is higher than this limit is considered jumbo and usually has a higher interest rate as a result.