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Conforming Loan Limits October 1, 2011 (Conventional)

 

[Critical Loan Limit Update on 11/18/2011] Banks stopped accepting rate locks on high-balance conforming loans to $729,750 in early September because these loans must close before loan limits drop on October 1. Below are new loan limits as of October 1 and approximate rate spreads between each tier:

Tier 1-TRUE CONFORMING: Lowest rates for loans to these limits:
-$417,000 (1 unit)
-$533,850 (2 units)
-$645,300 (3 units)
-$801,950 (4 units)

Tier 2-HIGH-BALANCE CONFORMING: Rates about .125% to .375% higher than Tier 1 for loans to these limits:
-$625,500 (1 unit)
-$800,775 (2 units)
-$967,950 (3 units)
-$1,202,925 (4 units)
-High-Balance limits vary by county: find yours here

Tier 3-JUMBO: Rates about .5% to .625% higher than Tier 2 for loans to $2m.

-Tier 1 and 2 limits are the same for FHA loans.
-Recent efforts by lawmakers to extend the higher limits have failed.
-Read WeeklyBasis for rates and market recap/outlook every Saturday.

 

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Comments [ 2 ]
  1. Kwik cash says:
    March 20, 2012 at 7:40 am

    Conventional loans will generally require, at the very least, five percent down and home loan insurance. When you utilize to get a VA loan, you don’t need any kind of home loan insurance and you don’t usually need to put any money down.

    Reply
  2. Kwik cash says:
    March 20, 2012 at 7:40 am

    Conventional loans will generally require, at the very least, five percent down and home loan insurance. When you utilize to get a VA loan, you don’t need any kind of home loan insurance and you don’t usually need to put any money down.

    Reply

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