Pulse on Politics: High-Cost Limits Remain Unchanged

By chrisking • January 16th, 2013

There is good news for properties located in “high cost” counties such as Los Angeles County. The conforming loan limits for loans funded with Fannie Mae and Freddie Mac money will remain unchanged in 2013 compared to 2012. According to the California Association of Realtors, this means that the traditional conforming loan limit will stay at $417,000, and in select counties with higher-priced properties, the limit will remain at $625,500. Having these higher loan limits enables lower interest rates. Fannie Mae and Freddie Mac provide banks with pools of low-cost money to lend. This means that relatively low rates should continue even for loan amounts up to $625,500. Contact us today for more information.

 

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