Conforming Limits Jump

Fannie Mae and Freddie Mac have raised the conforming loan limits for the new year. Effective January 1, 2000, the new Fannie and Freddie loan limits will be:

What does this mean for the home buying public? Conforming mortgages generally carry a lower interest rate than jumbo alternatives – though the rate distinction is more likely to be fixed rate products. Fannie and Freddie low-to-moderate income programs feature only three percent down with liberal qualification criteria.