Jumbo Conforming Loan Limits
It’s not finalized, but it looks like the government is going to keep the subsidies going for the higher priced houses. We’ve got to keep the bubble inflated because if the bubble pops, we’re all in trouble….
If you want to know whether your area qualifies for the jumbo conforming loans, let me know.
Tom Vanderwell
Appropriations committees in the House and Senate are proposing to extend the temporary limits for conforming jumbo loans either insured by the Federal Housing Administration (FHA) or purchased by the government-sponsored enterprises (GSE) Freddie Mac (FRE: 1.16 -5.69%) and Fannie Mae (FNM: 1.02 -4.67%).
The proposed extension of the conforming minimum of $729,750 for mortgages in higher-priced markets would run through the end of 2010.
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Mucho Gracis. The article. was very useful