Home › Forums › Housing › Mob psychology may actually be changing › $417K is LOAN AMOUNT, has
$417K is LOAN AMOUNT, has nothing to do with property value.
GSE’s don’t buy loans above this amount, except if the property is in Hawaii or Alaska, then the limit is $625,500. Go figure.
Loans that are above 80% of the appraised value (but still under $417K) will require mortgage insurance.
I had a borrower sign docs on Friday, 95% loan. 30 YR Fixed, 6.25% PLUS MI payment.
He didn’t qualify for 6.74% without separate MI payment because he went stated.
