New Conforming Loan Limits for the Northern Virginia Area
March 10th, 2008 Categories: Buying, Financing, Keller Williams
On March 6th, the Housing of Urban Development (HUD) published new conforming loan limits for FHA, Fannie Mae, and Freddie Mac loans. They are now calculated at: 125% of published mean prices, with a floor of $271,050 and $417,000, respectively, and a ceiling not to exceed $729,750.The higher loan limits will help those buyers looking foo jumbo loans, like the buyers in our area with higher real estate values. It’ll help those seeking new loans, and those looking to refinance to lower, more reasonable rates.
TIME TO BUY YOUR NEW HOME! :) Call us today to discuss how this might affect your buying power for a new property.
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