[quote=Balboa][quote=bewildering]
AFAIK the limit in San Diego is $562,350 not $417,000
Are you buying in San Diego?[/quote]
I thought < $562k would before fully conforming, too, but it appears not. HLS will be the expert on this but, after looking into it, I think the hard limit actually applies to Fannie/Freddie and that other lenders just mostly fall in line. There are higher Fannie/Freddie limits in San Diego, but I can see how the higher limits would come with a bit of an interest penalty.[/quote]
Odd. We got a conforming loan for a house in Clariemont, and the first amount was ~450K. It was explained to me that Fannie takes account of higher cost areas when determining the limit. And treats the loans just the same depending on downpayment. We put 10% down and got a good rate (at that point in time). How much are you putting downpayment? IIRC if we had wanted to put 5% down the limit was lower.
This might be a good question to put on https://www.reddit.com/r/RealEstate/ There are a couple of loan officers that answer questions on that subreddit.
