WOW, this is GREAT!! Fannie Mae and Freddie Mac have just eliminated the “price adders” which were previously driving higher rates on the new, conforming, (temporary) higher loan limits above the $625,500 loan amount! Now, as of May 7, 2008, the pricing on these “Jumbo” loans is almost equal to the agency conforming!
Oh, by the way, the max loan amount for the new, conforming “Jumbo” varies by zip code. In Hawaii, the loan limit by County for a one unit property is as follows; Honolulu $793,750, Kalawao $716,250, Kauai $773,750, Maui $790,000.
What a great opportunity to capture an excellent rate on what was previously considered a real Jumbo loan with real Jumbo pricing!
Please call the office if you have questions, or would like a rate quote.
Marcia Murphy
Pacific One Mortgage, Inc
808-792-7169 office