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1998 Thru 2006 Jumbo Loan Limits
 As
with the growth of the housing market, the average median price
of homes increase steadily throughout most of the United States.
A home that would have been considered conventional just a few
years ago now demands a higher price. Jumbo loans adjust their
limits regularly to meet the demand of rising housing prices.
Jumbo loan limits are loan amounts that are above the loan
amounts listed below.
|
Jumbo Loan Limit: |
2008 |
2005 |
2004 |
2003 |
2002 |
|
One-family |
$417,000 |
$359,650 |
$333,700 |
$322,700 |
$300,700 |
|
Two-family |
$533,850 |
$460,400 |
$427,150 |
$413,100 |
$384,900 |
|
Three-family |
$645,300 |
$556,500 |
$516,300 |
$499,300 |
$465,200 |
|
Four-family |
$801,950 |
$691,600 |
$641,650 |
$620,500 |
$578,150 |
|
For properties in Alaska, Hawaii, Guam, and the
U.S. Virgin Islands, the limits are 50 percent higher. |
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Jumbo Loan Limit: |
|
2001 |
2000 |
1999 |
1998 |
|
One-family |
|
$275,000 |
$252,700 |
$240,000 |
$227,150 |
|
Two-family |
|
$351,950 |
$323,400 |
$307,100 |
$290,650 |
|
Three-family |
|
$425,400 |
$390,900 |
$371,200 |
$351,300 |
|
Four-family |
|
$528,700 |
$485,800 |
$461,350 |
$436,600 |
Why do you need to know this?
Once you know your loan is classified as Jumbo or Super Jumbo,
you need to ask different questions. From the first conversation
you have with your lender, you need to make certain that he or
she knows you need a jumbo or super jumbo loan. You need to be
prepared for having at least two appraisals on the property, and
potentially providing more documentation than other loan
programs. You need to make certain that your lender has the
proper resources to offer you competitive jumbo and super jumbo
financing.
Do you want a lender who is inexperienced in working with jumbo
and super jumbo loans? Do you want to risk your time and
investment? We will connect you with the right jumbo lenders who
can provide a variety of products for many different
classifications of borrower.
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