What is the new conforming jumbo loan?

The economic stimulus package passed by the government earlier this year provides for an increase on the conforming loan limit. The old limit of $417,000 restricted homeowners in higher cost areas and didn't provide enough options for securing a loan.

The new limit has been raised to as high as $729,250 depending on the area you live in. Much of California is in a high cost area meaning many residents of this state have an opportunity to refinance at a better rate. View rates and apply for a 30 year fixed conforming jumbo.

Increase available until further notice.

It is highly recommended that you take action sooner than later in order to get ahead of any last minute rush that could put lenders behind.

What are the high cost areas?

There are many counties throughout the country that are considered high cost. California has the most of any state. To find out if you are in an area that qualifies for this conforming jumbo loan, please contact a loan officer at First Equity Direct.

Will this really make a difference to my situation?

It definitely could. Many traditional jumbo loans are at an unaffordable rate while these conforming jumbos are priced at a rate that may be a great benefit to you. The only way to find out is to contact us and let us run through your scenario. It doesn't take long and we can figure out pretty quickly if this program is right for you.

30yr Fixed Conf
Rate	APR
4.000%	4.176%

5/1 ARM Conf
Rate	APR
3.000%	3.159%
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