Question:

Can I get conforming rates on conforming jumbo mortgage loans?

Answer:

Well, getting conforming rates on a conforming jumbo mortgage loan is what interests a lot of consumers today.

On the whole, even though conforming mortgage loans limits for single family have been extended to $730,000 conforming pricing for those jumbos is difficult to find.

Before going out shopping for conforming jumbo loans check out first what is the Fannie Mae jumbo limit for your county. $729,750 is the upper limit for the highest cost metropolitan areas. Counties determine the conforming jumbo limit based on 125% of average home market values and the above-stated figure, whichever is less.

Increasing conforming home loan limits to incorporate jumbo mortgages - what does it mean to a consumer?

Lenders doing conforming jumbo mortgage loans will be able to sell them on the secondary market but not every lender offering standard conforming loans would offer jumbos up to the allowed limit at the same conforming rates and terms.

If you are in need of a conforming jumbo home loan, you'll have to shop. Try the internet but be advised to check who you are working with. There might be scam artists out there making use of consumers who have difficulties finding a jumbo mortgage at conforming pricing.

Only reputable lenders should be on your list. Fannie Mae's requirements disallow jumbos for cash-out refinances and this is the reason fraudsters may have sprung out.

Mortgage rates hit their lowest since 1955. Ask the home loan experts we recommend Quicken Loans how to take advantage of them.
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