Conforming Limit Increase: Did Not Impact Limits in Minneapolis/St. Paul - 06/03/08 10:27 PM

Conforming Limit Increase: Did Not Impact Limits in Minneapolis/St. PaulA quick update on the political gymnastics on display over the proposed increase to conforming loan limits, from our source:For the home (MN) crowd: when congress raised the conforming limit to $625/$725/$730/Whatever it had no impact here.  That's because an increased conforming limit is not an across the board increase. It works like this:  The limit can be increased to 125% of the Median Sales price of the Twin Cities MSA with a FLOOR of $417,000.  That "floor" part is important, because the Median Sales Price in our MSA is roughly $232,000 (125% … (0 comments)

 

John J Moriarty, LUTCF, CRMS

Blaine, MN

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MetLife Auto & Home®

Address: 10710 Town Square Drive, Blaine, MN, 55449

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