Increase in jumbo conforming limit to $729k?
Started by lorenzonyc
over 17 years ago
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Member since: Mar 2008
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hoping for the same-but havent heard anything yet
The GSE's have not released pricing yet to the lenders
It sounds like the GSEs have released their guidelines (Fannie on May 30, Freddie on April 16) and that they will begin accepting new conforming loans from lenders on May 4. This article suggests that Wells will begin making the bigger conforming loans almost immediately, and BofA sometime mid-May.
http://www.inman.com/news/2009/04/24/fannie-freddie-buy-bigger-loans
Fannie/Freddie are, at the Government's behest, becoming like that Violet girl in Willie Wonka. When will they implode, spewing toxic debt waste far and wide?
Having said that, if you're looking for a conforming loan in Manhattan, the combination of lowering prices and rising limits has just broadened your search significantly. And if you have no stomach for walking away from a deposit, at least some of you will be able to get financing.