Monday, November 07, 2005
Conforming Loan Limit Increase for Mortgages
Recently, several lenders (though not all just yet) have increased their conforming loan limits to $400,000, up from $359,650. This change will likely spread to all lenders in the near future, but it is available now.
Conforming loan limit refers to the highest loan amount available without crossing into the "jumbo" loan category. Conforming rates are generally the lowest fixed rates available. This increase is probably a reaction to the rapidly rising cost of real estate.
Arizona Mortgage Pro
Conforming loan limit refers to the highest loan amount available without crossing into the "jumbo" loan category. Conforming rates are generally the lowest fixed rates available. This increase is probably a reaction to the rapidly rising cost of real estate.
Arizona Mortgage Pro
