Lower ‘Jumbo’ Loan Limits ~ WSJ Market Watch
July 17, 2011
Wall Street Journal article by Amy Hoak about current conforming mortgage limits are scheduled to expire with limits for jumbo loans falling from $729,750 to $625,500. Limits vary depending on where you live with lower limits that are equal to 115% of the median single family home price, ranging from $417,000 to as much as $625,500. This change in the high end home areas will cause mortgages to get more expensive.
The change is expected to officially take effect on October 1st, but it may be reflected in loan quotes as early as the end of July. If you are thinking of refinancing your home, talk to your local mortgage banker soon before the change.
William Raveis Real Estate is a full service mortgage banker and is licensed to originate loans in Connecticut, Massachusetts, New Hampshire, New York and Rhode Island. Click here to find your local William Raveis Mortgage Loan Professional.
David Popoff is a license Realtor in Connecticut with William Raveis office in Darien. A resident of Fairfield County for over 40 years with 30 years of work experience throughout lower Fairfield County and now resides in Darien, Ct since 2004.
- Member of the Connecticut Association of Realtors, CAR.
- Member of the National Association of Realtors, NAR.
- Member of the Darien MLS, Greenwich MLS & Greater Fairfield County, Ct MLS.
- NAR Green designee.
- David Popoff is an accredited LEED Accredited Professional (LEED AP) Homes and USGBC member of the Connecticut chapter (CTGBC).
- Associate member and an accredited Certified Green Professional (CGP) of National Association of Home Builders (NAHB) and the local chapter HBRA-Fairfield County, Ct. .
- Contact David Popoff for all your real estate needs in lower Fairfield County, Connecticut.