Do you keep hearing about Washington looking at reducing the current mortgage loan limits? Can someone explain the rational?
We do a good amount of Jumbo loans, even though the rates for these loans are extremely good right now, that will not be the case sometime in the future. If loan limits will be lowered, that means more loans will become jumbo loans and cost the public a higher monthly payment. Also since real estate values have increased in the last two years and more Americans are building equity in their homes, that were previously upside down. Refinancing for these homes will mean a higher monthly payment, if these loan limits will be lowered.
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