What You Should Know About Jumbo Loans. Jumbo loans are mortgages that are more expensive than traditional loans. For single-family homes, that means a mortgage amount greater than $424,100. That number is known as the conforming loan limit and itâs the maximum loan amount that can be backed by Fannie Mae or Freddie Mac.
The term âprice actually paid or payableâ means the total payment made, or to be made, for imported merchandise by the buyer to, or for the benefit of, the seller (exclusive of costs, charges, or expenses incurred for transportation, insurance, and related services incident to the international shipment of the merchandise from the country of exportation to the place of importation in the U.S.).
A draft that is payable on demand is called a sight draft because the drawee must comply with its terms of payment when it is presented, in his or her sight or presence, by the payee. In contrast, a time draft is one that is payable only on the date specified on its face or thereafter. A draft may be payable to a designated payee or to the bearerâthe person who has possession of the draft at the time it is presented to the drawee for paymentâpursuant to the drawer's directions. A draft is sometimes synonymous with a bill of exchange, Commercial Paper, or negotiable instrument.