• Large Loan is a type of financing that exceeds limits set by the Federal Housing Finance Agency and cannot be purchased, guaranteed or securitized by Fannie Mae or Freddie Mac.
  • Homeowners must pass stricter credit requirements than those who apply for a regular loan.
  • Approval requires a stellar credit rating and a very low debt-to-income ratio.
  • The average annual interest on large mortgages is often equal to conventional mortgages, and the down payment is approximately 10% to 15% of the total purchase price.