Loudoun Real Estate Blog

As we had heard through the rumor mill, Fannie Mae has now increased the conforming loan limit in our high cost area to $729,750.  This gives people increadible buying power and we are looking forward to seeing how this affects sales for the rest of the year.  There are some resitrictions, which you can view in Fannie Mae Conforming Loan Limit Announcment and Details pdf file.  The changes go into efftect April 1st 2008 for fixed rate loans and May 1st 2008 for adjustable rate loans.  We have heard some lenders will allow the limit changes earlier, but you need to verify with your loan officer.

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Tags: Ashburn loan limit, increase, Leesburg loan limit, limit, loan, Loudoun County loan limit, Sterling loan limit

This entry was posted on Friday, March 7th, 2008 at 6:50 pm and is filed under Buyer's Advice, Loudoun County Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.