New Conforming Loan Limits for the Northern Virginia Area

On March 6th, the Housing of Urban Development (HUD) published new conforming loan limits for FHA, Fannie Mae, and Freddie Mac loans. They are now calculated at: 125% of published mean prices, with a floor of $271,050 and $417,000, respectively, and a ceiling not to exceed $729,750.The higher loan limits will help those buyers looking for jumbo loans, like the buyers in our area with higher real estate values. It'll help those seeking new loans, and those looking to refinance to lower, more reasonable rates.

TIME TO BUY YOUR NEW HOME! :) Call us today to discuss how this might affect your buying power for a new property.

Posted by Scott Montgomery on 03/10/2008 09:03 PM

Comments (3)

Post is included in group: Reston to Arlington and Everything in Between

3 Comments on New Conforming Loan Limits for the Northern Virginia Area

I heard the down payment was changed to 1.5% do you know if that is accurate...

03/10/2008 09:10 PM

by Konnie MAC Northern Virginia Real Estate (Konnie McKee )

Do you have the link for the new limits?

03/10/2008 09:10 PM

by Phil Mitsch

Here's the link the new loan limits by area: https://entp.hud.gov/idapp/html/hicostlook.cfm But I am not sure about the down payment rumor. Do you know where you read that Konnie?

03/11/2008 10:11 AM

by Scott Montgomery (Keller Williams, Serving Mclean, Arlington & Reston areas)

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Real Estate Agent: Scott Montgomery (Keller Williams, Serving Mclean, Arlington & Reston areas)

Scott Montgomery
McLean, VA
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Keller Williams, Serving Mclean, Arlington & Reston areas

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