81 Days and Counting
Today you can get a ‘High Balance’ Conforming mortgage and borrow up to $729,750 in high cost markets.
Since Conforming loans generally have better rates than non-conforming loans, the ‘High Balance’ program has been helpful for many of my customers in New York,New Jersey and Connecticut.
These limits will ratchet down to $625k on September 30. Importantly, for anyone who plans to borrow more than $625,000, you must close on or before September 30. Do not expect an extension.
Want to read more? Here is a link to a WSJ article WSJ
