Home › Forums › Closed Forums › Buying and Selling RE › Conventional Loan limits going up a bit in 2017 !
- This topic has 6 replies, 6 voices, and was last updated 6 years, 6 months ago by gzz.
November 23, 2016 at 9:16 AM #22207November 23, 2016 at 12:23 PM #804078bearishgurlParticipant
Interesting, HLS. Can you explain the Agency High Balance? Is that the difference between conforming and jumbo rates … possibly the “superconforming limit?”November 28, 2016 at 3:12 PM #804130poorgradstudentParticipant
So, 1.7 increase%?
Way less than the rate of home price increases, although about in line with overall inflation.November 28, 2016 at 3:37 PM #804132spdrunParticipant
That’s a good thing.November 29, 2016 at 12:02 PM #804142poorgradstudentParticipant
That’s a good thing.[/quote]
Yeah. It also is one more reason to suggest the increases in home prices aren’t sustainable, as the gap between median home prices and conforming loan limits grows.November 29, 2016 at 5:08 PM #804153gzzParticipant
Poorgradstudent, I moved to SD during the big bubble and waited for it to pop before buying in 2011, even though I moved here to take a 6-figure job and could have purchased immediately. It was a 6 year wait for me.
I think you will have a much longer wait than me. Incomes are higher, rates are lower, population is higher, net worth is higher, Asian interest is higher, and we have none of the NINA 0% down insanity of 2003-07.
If you want to settle down in SD or anywhere nice on the West Coast I suggest you not wait.December 7, 2016 at 1:02 PM #804146biggoldbearParticipant
Agency High Balance increased by County
San Diego will be $612,950 From $580,750 ^5.5%
Orange/LA at max of $636,150 From $625,500 ^1.7%
Pretty sizable increase for the superconforming loan. This could make a difference in the $725k+ market. From personal experience, these loans “only” cost about 1/8% APR more than conforming. This would bring the max 80% LTV from ~$726k to $766k.
- The forum ‘Buying and Selling RE’ is closed to new topics and replies.