california home purchase limit: Jumbo & Conforming Loans Amount Limits
- 01/31/17 08:29 AM
When is a jumbo loan a jumbo loan? Well, today a jumbo loan in most parts of the country is any loan amount above the new conforming loan limit of $424,100. This new conforming limit took effect January 1 of this year. Just this past December, the conforming loan limit was $417,000. This increase was the first such increase in the conforming loan limit, and thus the new minimum jumbo amount of $424,200. There is also another class of conforming loans, those underwritten to Fannie Mae and Freddie Mac guidelines, called “High-Cost” loans which increases the conforming loan in areas deemed … (0 comments)
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