There is current legislation in front of congress that will increase the conforming limit from $417,000 to s much as $750,000 in some markets.  Congress is currently working on the details of where, how much and how long will the new limits be in place.

Why is this important?  Jumbo loan interest rate have been nearly 1.5% higher in some case than conforming rates.  Your $550,000 could cost $400 a month less after this change. 

The real estate market will bounce back(to normal pre-2003). With rates being very low, seller and buyers expectations becoming more realistic and now conforming limits increasing, this is exactly the lift we all need.

     Troy Schuricht

7575 E Redfield Rd   Suite 235

Scottsdale, AZ  85260

480-305-8905 - office

480-393-8801 - fax

http://www.communityfirstfinancial.com/

http://www.yourlendertroy.blogspot.com/

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