Contact Me Today (818) 728-37012009 Conforming Loan Limits for High-Cost Areas
Under the Housing and Economic Recovery Act of 2008 (HERA), the Federal Housing Finance Agency (FHFA) was directed to set conforming loan limits for the nation as a whole, as well as for high-cost areas. The rules under HERA establish the high-cost area loan limits at 115% of the local median sales price, up to a maximum of 150% of the national limit. Since the national limit will remain at $417,000 for 2009, the maximum limit in high-cost areas will be $625,500 for 1-unit properties. In CA the maximum limit applies to only four metropolitan areas, Los Angeles, San Francisco, San Jose and Santa Cruz. Ventura County’s new limit will be $598,000. Pricing adjustments and loan delivery dates have not been announced.
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Interest-Only options available, call for details. Last Updated November 18, 2008.
Loan Amounts to $417,000 |
Loan Amounts $417,001 - $729,750 |
Loan Amounts $729,751 - $2,000,000 |
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| 0 points | 1 point | 0 points | 1 point | 0 points | 1 point | |
| 30 Year Fixed | 6.125% | 5.875% | 6.250% | 5.875% | ||
| 15 Year IO | 7.000% | 6.625% | ||||
| 5/1 ARM | 5.875% | 5.625% | 6.000% | 5.750% | 6.375% | 6.000% |
| Prime: 4.000 |
2-Yr Note: 1.215% |
5-Yr Note: 2.268% |
10-Yr Note: |
* Rates are based on 20% down payment, are subject to change without notice, and may vary from region to region. Rate/APR and terms may vary based on the individual creditworthiness and investor requirements. Call for full details.
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Equal Housing Lender. Metrocities Mortgage, LLC, 15301 Ventura Blvd., Suite D300, Sherman Oaks, CA 91403, is a Delaware limited liability company licensed by the California Department of Corporations under the California Residential Mortgage Lending Act. Arizona Mortgage Banker License #BK0903027; Georgia Residential Mortgage License #16984; Illinois Residential Mortgage Licensee #6424; Kansas Supervised Loan License #2002-4365; Massachusetts Mortgage Lender License #MC2011; Mississippi Supervised Mortgage Company; New Hampshire First Mortgage Banker/Broker License 8728-MBB; Licensed Banker-New Jersey Department of Banking #9932415; Pennsylvania Department of Banking #1740; Rhode Island Licensed Lender #20021343LL. Restrictions may apply, ask for details. This is not an offer for extension of credit or a commitment to lend. All calculations are approximations. All rates, fees, and programs are subject to change and/or withdrawals from the market without notice.