Use this link to determine the loan limits for Conforming, FHA, and FHA Reverse mortgages:
https://entp.hud.gov/idapp/html/hicostlook.cfm
On the same note, Lenders started publishing the rates on the "jumbo" conforming loans. It looks like the rates are similar to what Jumbos used to be, about .375% higher than regular conforming loans. This is a big improvement, as Jumbos have been about a point higher until now. This is the time to start calling clients in areas that have had their loan amounts increased. Unfortunately here in Idaho, only 2 areas had any loan limit increases, Blaine and Teton county. For Blaine County, the Fannie Mae limits increased to $425,500. For Teton County, the limits increased to $693,750.
For those of you in unaffected areas, there are still options available. My Home Ownership Accelerator goes all the way to $650,000 without any rate increases. I also have some hybrid programs that go up to $600,000 for the same rate. If you have any questions, call me at 208-955-1234.
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