Is a conforming loan still 417K or less?

S

ScubaSteve_IHB

New member
If I were to buy a 600K house, would 20% downpayment be good enough or do I need to put down more so that my loan is under 417K?
 
[quote author="ScubaSteve" date=1257776894]If I were to buy a 600K house, would 20% downpayment be good enough or do I need to put down more so that my loan is under 417K?</blockquote>
Regular conforming loans = $1 to $417,000

Jumbo conforming loans = $417.001 - $729,000

Jumbo loans = $729,001+



The rate difference between a regular conforming loan and a jumbo conforming loan is about 1/8%...not enough to throw in additional downpayment funds IMO.
 
[quote author="reason" date=1257779068]USCtrojanCPA <--- this guy is too fast for me.</blockquote>
You know it mang. So you coming to the IHB gathering tomorrow?
 
[quote author="USCTrojanCPA" date=1257779956][quote author="reason" date=1257779068]USCtrojanCPA <--- this guy is too fast for me.</blockquote>
You know it mang. So you coming to the IHB gathering tomorrow?</blockquote>


No coupons. NO show. Hahah! I'ld love to. But I am really shy dude.
 
[quote author="USCTrojanCPA" date=1257778269][quote author="ScubaSteve" date=1257776894]If I were to buy a 600K house, would 20% downpayment be good enough or do I need to put down more so that my loan is under 417K?</blockquote>
Regular conforming loans = $1 to $417,000

Jumbo conforming loans = $417.001 - $729,000

Jumbo loans = $729,001+



The rate difference between a regular conforming loan and a jumbo conforming loan is about 1/8%...not enough to throw in additional downpayment funds IMO.</blockquote>


Thanks USC.. you are always there for me!
 
You must log in or register to reply here.
Back
Top