Jumbo Conforming Mortgages
Since 1977, Ocean Pacific Capital has helped its borrowers attain the best jumbo conforming mortgages to meet their needs. We are pleased to announce that loan amounts have been increased up to 125% of the area median home prices, as determined by the U.S. Department of Housing and Urban Development. The Economic Stimulus Act of 2008, signed by the President on February 13, allows a temporary increase in Freddie Mac's conforming loan limits in the higher cost areas. This new temporary increase is believed to provide the relief that many homeowners need in liquidity and stability for jumbo loans in the residential mortgage market. While these new jumbo loan limit increases will help some homeowners, homeowners who do not reside in high cost areas will not get any help from these new limits. This new jumbo conforming loan limit of $729,750 has been increased from the previous conforming loan limit of $417,000. For more information on jumbo conforming mortgages or to see if your residential area may qualify, contact our residential loan specialist today!