Financing A Worldly Paradise If price were no limit what kind of house would you buy? If you look around at your local housing markets from this point of view, it’s incredible what you can purchase with sums of money that are not that far out from the typical home loan. If you have excellent […]
Tag Archive | "conforming loan limits"
2012 conforming loan limits have been announced by the Federal Housing Finance Agency (FHFA) for mortgages owned by Fannie Mae and Freddie Mac. Conforming loan limits are the maximum loan sizes that Fannie Mae or Freddie Mac will purchase and or guarantee. Mortgages that exceed the conforming loan limit are called jumbo loans / mortgages […]
Some good news for homeowners as the Senate voted yesterday to approve a measure that would restore the high balance conforming loan limit to $729,750 in high cost areas. The amendment was added to a spending bill by Senator Robert Menendez and was approved 60-31 in the Senate. If the larger spending bill is approved, […]
As part of the economic stimulus package in 2008, temporary loan limits were enacted to help homeowners in high-cost areas that were unable to get loans for more than $417,000 under the standard conforming loan limits regardless of their payment history, credit and income. Homeowners in areas such San Francisco, New York and Los Angeles […]