Profile picture for lupe benjamin

What is the status on jumbo loan, will be cut off of 417,000.00 change soon. Down payment? thanks

  • June 26 2009 - Chandler
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Answers (2)

Profile picture for Mr Caveat
sometimes i just dont have a clue how you could have understood that jibberish. so i am giving you a thumbs up.

As values have been decreasing over the last two years it is unlikely that they will be increased over $417,000 for a single family unit in Arizona for 2010.


i think its pretty safe to say that again.
  • June 28 2009
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HUD loan amount lookup table Agency Conforming loan limits are set every year and published by FannieMae and FreddieMac around November for the upcoming year.  These loan amounts had been increasing every year based on rising home prices until 2006.  As values have been decreasing over the last two years it is unlikely that they will be increased over $417,000 for a single family unit in Arizona for 2010 (higher in Coconino county).  You can look up max loan amounts for FHA and Conventional loans on the lookup table. 
Stimulus legislation that has passed over the last two years has temporarily increased max loan amounts in high cost areas - most notably in states like California where the "conforming" loan amount is significantly higher than $417,000.

if you are purchasing a home that requires financing over the conforming loan amount, there are jumbo, or first and second lien combinations.
  • June 28 2009
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