Mortgage loan limits are scheduled to be reduced as of October 1st. Supporters say the idea is to reduce lender risk, but the lower conventional and FHA mortgage limits will also mean that more loans will be classified as "jumbo" financing for which lenders charge more interest.
VA loan limits remain unchanged because, actually, there are no VA loan limits.
Mortgage loan limits are scheduled to be reduced as of October 1st. Supporters say the idea is to reduce lender risk, but the lower conventional and FHA mortgage limits will also mean that more loans will be classified as "jumbo" financing for which lenders charge more interest.
VA loan limits remain unchanged because, actually, there are no VA loan limits.
The story includes charts and links.
http://www.ourbroker.com/news/new-fha-va-and-conventional-mortgage-loan-limits-091211
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