Search / 12 posts tagged conforming loan limits

San Francisco, like Summit County, is a “high cost” housing area, where “conforming” mortgage loan limits are higher. Source:Mortgage wisdom from another 'high cost' area, San Francisco (Summit Daily News)

Conforming mortgages are limited by loan size, based on “typical” housing costs around the country. Since 1980, as home prices have increased, so have conforming loan limits.The current conforming limit on a single-unit property is $417,000.

Jumbo Mortgages Not Helped Much By New Bill From Business Week: If the bill passes, the limit on the size of loans that can be purchased by government-sponsored mortgage finance companies Fannie Mae and Freddie Mac will drop to $550,000 after spending 2008 at nearly $730,000.

Refinance: Getting the Big Loans The Washington Post reports: The gears of the mortgage market are starting to unlock for borrowers needing big loans. Last week, for example, BB&T was offering 30-year, fixed-rate mortgages for a conforming loan, which is for $417,000 or less, at 6 percent interest with no points, a type of prepaid interest.

Mortgage Rate Relief From the San Jose Mercury News: Months after many eager homeowners started gearing up to refinance their mortgages, interest rates for Bay Area-size mortgages are finally falling.

Hard To Find A Jumbo Loan Here's a report: Higher loan limits, set by the federal government as part of an economic stimulus package early this year, were supposed to make jumbo loans more affordable in expensive housing markets.

A bipartisan foreclosure relief bill put forward for debate in the Senate Thursday would permanently increase the limits for Federal Housing Administration loan guarantee programs, but did not include an ambitious plan to allow the FHA to help refinance up to 2 million troubled loans when lenders agree to write down their value.

LeadCritic has done a little digging and discovered who is generating FHA mortgage leads. Many lead providers are doing a nice job of making sure their marketing approaches filter this increasingly tight niche of qualified borrowers.

Raising Loan Limits For Reverse Mortgages Tom Kelly writes that the Economic Stimulus Act of 2008 has raised loan limits for conventional mortgages but not for reverse mortgages. The Federal Housing Administration, a branch of the U.S.

Since it became apparent loan limits would change, the unanswered questions have been, “What will it cost?” and “Are there strings attached?” A day after the new loan limits were announced, the strings were revealed as well. What: First of all, these new loans have a name. It’s jumbo conforming.