Can someone explain to me the jumbo loan limit

NEW -> Contingent Buyer Assistance Program
conforming = <$417,000

for orange county hybrid conforming (non jumbo) $417,000-$629,750 (this will typically run you a 1/4-1/2 pt. higher in interest rate than conforming)

$629,750k+ = jumbo
 
Is this for a limited period of time or permanently changed?

Using an 80/20 loan, you would need a $157,500 downpayment for a total loan of value of $727k.
 
I received a message today from a mortgage broker stating that the jumbo conforming limit would be increasing back to 729K as part of the financial stimulus package. Is this true?
 
roo: i believe its permanent

maltese: i've hear a rumor like that too, but don't know if that's going to happen

we need a mortgage broker in here to help shed some light...
 
sell4u said:
conforming = <$417,000

for orange county hybrid conforming (non jumbo) $417,000-$629,750 (this will typically run you a 1/4-1/2 pt. higher in interest rate than conforming)

$629,750k+ = jumbo
Click to expand...

That was what was confusing me. The Hybrid conforming.

Thanks for the clarification.
 
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