Important Reminder: Conforming Loan Limits Will Be Decreasing!
November 17, 2008
Ed Craine
The increases in conforming loan limits that we saw earlier this year are darn close to reaching their expiration date. Well, technically the loan limits (some as high as $729,750) will be decreasing effective January 1, 2009. HOWEVER, most banks will not be accepting new loan applications for the higher limits past late November, or early December. There just won't be time to get the loans funded before the limits change again.
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