Login  |  Create Account
You are here: Home / Archives for Loan Limits
Nov 25

Conforming Loan Limits Unchanged For 2012

November 25, 2011 By 2 Comments
conform-new

A conforming mortgage is one that, literally, conforms to the mortgage guidelines as set forth by Fannie Mae and Freddie Mac. Conforming mortgage guidelines are Fannie's and Freddie's eligibility standards; an underwriter's series of check-boxes to determine whether a given loan should be approved. Among the many traits of a conforming mortgage is "loan size". Each year, the government re-assesses its maximum allowable loan size based on "typical" housing costs nationwide. Loans that … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , , ,
Nov 22

Maximum FHA Loan Limits Restored To $729,750

November 22, 2011 By 4 Comments

After a brief return to lower, pre-2009 levels, FHA loan limits have been restored. As signed into law last Friday, maximum FHA loan limits are -- once again -- as high as $729,750. The move creates additional mortgage financing possibilities in more than 650 U.S. counties, and promises to increase the FHA's mortgage market share, which has grown from 6% in 2007 to roughly 30% today. The change in FHA loan limits also marks the first time that FHA loan limits exceed those of conventional … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , , , , , ,
Oct 04

Conforming Loan Limits Drop In High-Cost Areas

October 4, 2011 By Leave a Comment
CONFORMING

  For homeowners in high-cost areas nationwide, conforming and FHA loan limits have dropped by as much as 14 percent. Effective October 1, 2011, the temporary mortgage loan limits that allowed for non-jumbo loan sizes of up to $729,750 are no longer. $729,750 is above the "normal" loan limit of $417,000. The elevated limits were put in place in 2008 as the economy and financial sector entered its crisis. At the time, there was little private money to serve buyers and would-be … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , , , ,
Jun 08

Temporary Conforming Loan Limits Expire September 30, 2011

June 8, 2011 By Leave a Comment

If you live in a high-cost area, keep an eye on your calendar. Effective October 1, 2011, temporary conforming loan limits will be lowered nationwide. Perhaps by as much as 14 percent. These limits range up to $729,750 currently. "Temporary loan limits" were enacted as part of the government's 2008 economic stimulus package. At the time, the financial sector was entering its crisis and private mortgage lending had all but disappeared. Financing was scarce for both homeowners and home … [Read more...]

Filed Under: Buying Real Estate in Washington, DC Tagged With: , , , ,
DMCA
PROTECTED