The limits for "conforming" loans were increased today. Essentially what this means is that you can borrow more money (now $417,000) at the lowest available, or "conforming," interest rates.
Rather than explain it further, we’re going to introduce a little feature we like to call the Worlds Laziest Post™, and point you over to Dan Green’s Mortgage Reports, whose taken the time to lay it all out for us:
· Limitless Limits for Loans [mortgagereports]
See Also:
· Fannie, Freddie Raise Conforming Loan Limits [bizjournals]
Related posts:
- Conforming Limit Increase: Political Wrangling Ensues, Won’t Impact Limits in Minneapolis/St. Paul
- OFHEO Director James Lockhart Comes Down Hard Against Raising Conforming Limits
- Super-FHA™: Twin Cities Metro FHA Loan Limits Raised to $365,000
- News On Conforming Limit Increase: $625,000?
- FHA (don’t call it a) Comeback: Changes to Limits, Down Payment Forthcoming
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