And the financial requirements of the banks extending jumbo loans can rise with the size of the mortgage.

A jumbo loan starts at $203,000, a super-jumbo at $500,000.

Thus the jumbo loan has traditionally been more costly and difficult to obtain.

The borrower may be in a far stronger bargaining position when shopping for a jumbo loan, but how does he get the best deal?

The qualifying criteria at each lending institution may differ sharply when applying for a jumbo loan.

It can be more expensive to refinance a jumbo loan due to the closing costs.

It is the jumbo personal loan made by the private banking divisions of large financial institutions and requiring no recognition agreement from a board.

Above the conforming loan limit, a mortgage is considered a jumbo loan.

In general, however, borrowers can expect lenders willing to make jumbo loans to require a large downpayment to protect their equity.

In some cases, he said, borrowers may have to agree to close down some of these lines before a jumbo loan is granted.