New conforming limits for 2009 and what it means to Almaden
There will be new "Super Conforming" loan limits come January 1, 2009.
The new limits will be extended to $625,500 for Santa Clara County as part of the many government changes to the mortgage industry. This will allow many Almaden homeowners to access the lowest rate mortgages instead of having their loan be considered a jumbo loan, which meant higher interest rates.
There are also new limits for 2, 3 and 4 units.
With interest rates continuing to fluctuate, the new loan limits will also open up more home buying options as well.
The new limits will be extended to $625,500 for Santa Clara County as part of the many government changes to the mortgage industry. This will allow many Almaden homeowners to access the lowest rate mortgages instead of having their loan be considered a jumbo loan, which meant higher interest rates.
There are also new limits for 2, 3 and 4 units.
With interest rates continuing to fluctuate, the new loan limits will also open up more home buying options as well.
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