12 Dec Fannie Mae and Freddie Mac Jumbo Mortgage Loan Limits are Dropping January 1st
Effective January 1, 2009, the maximum amount for loans that Fannie Mae and Freddie Mac are willing to buy will decline from $729,750 to $625,500 in the nationâ€™s priciest areas.
Also on January 1st,according to Inside Mortgage Finance, underwriting standards for these loans will rise, requiring most buyers to put down 20 percent and have a debt-to-income ratio as low as 30 percent.
Latest posts by Jay Fleischman, Esq. (see all)
- 5 Things You Need To Know About Bankruptcy Exemptions Before Your Case Is Filed - August 28, 2013
- Beware Of This Person When Trying To Wipe Out A Second Mortgage In Chapter 13 - August 26, 2013
- Our Best Tips For Filing For Bankruptcy Without Your Spouse - August 22, 2013
- 5 Ways To Celebrate Financial Literacy Month - March 31, 2013
- Burning Money With Handcuffs On - March 21, 2013