"The System" is slow and big loans are cheaper

Conventional loan limits are officially on the rise... that is good news. The $417K loan limit is being adjusted up to 125% of the median home value in each county. This will mean larger loans in the Seattle area will have better interest rates. Now is the difficult season of change when the government is making new rules that effect the whole industry. Each company has to respond with the creation new guidelines and products before we know what all this means for the consumer. The mortgage industry is a VERY big ship and it turns slowly.

How to help your friends:
If you have heard anyone talk about their Jumbo loan (loan bigger then $417,000), let them know that rules have changed and they should talk to a Mortgage Consultant.