The loan limits on jumbo conforming loans will remain unchanged for the first nine months of 2011 the Federal Housing Finance Administration said Friday. The agency recently enacted a congressional continuing resolution to maintain the limits. The maximum jumbo loan limit is generally $417,000, but can go as high as $729,750. Loan limits vary by county and are the greatest in “high-cost” areas, meaning the top 20 major metropolitan areas across the U.S. President and founder of Total Mortgage Services John Walsh told HousingWire in a recent interview he believes that the loan limit should extended to its fullest in every city. “My thought is you should expand that increased conforming loan limit countrywide because a lot of people fall between $417,000 and $729,750,” Walsh said. “It would put a lot more people in the purchase market that wouldn’t necessarily qualify under the jumbo program.” A full list of conforming jumbo loan limits can be found here. Write to Christine Ricciardi.
Jumbo loan limits remain the same in 2011
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