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Deadline to increase jumbo loan limits approaching quickly

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Mortgage Professional America | 23 Jul 2015, 08:50 AM Agree 0
The threshold for jumbo mortgages may be increased, with the deadline for that decision just around the corner, but how will that affect originator business?
  • Ken Go Broker 1st Innocstive Finance | | 23 Jul 2015, 10:22 AM Agree 0
    Any word on when they would increase mortgage limits for counties like San Bernardino and riverside? The current FHA limits $355,350 . I believe those counties are suppressed by these limits. Prices have gone up above these limits and first time buyers can't get a mortgage due to these limitations. I also believe that is why the builders have been holding back in these counties.
  • ABBM | | 23 Jul 2015, 05:25 PM Agree 0
    What are they waiting for? Most mortgages that come my way are extremely to large for Fannie or Freddie. I would like to see them go up to at least 5M. I might actually make some money. For sure borrowers in that range have assets and are going to be a much more stable borrower than a 100k borrower.
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