282 Amesport Landing, Half Moon Bay

High-Cost Areas

The long awaited new conforming loan limits for San Mateo County and other high-cost areas are now available to home buyers, Wells Fargo announced this week, with other banks to follow in the coming days.

Jumbo vs Conforming

There are two types of loans:  conforming and jumbo.   The difference is cost.  Remember, the higher the risk, the higher the cost in interest rates to you.  The interest rates on jumbo loans is higher – more risk.

With the new conforming loan limit of $729,750, more buyers will be able to afford a higher loan amount, making homes more affordable.

For A Limited Time

This new program has restrictions and it’s only available until the 1st of December of this year.  So be sure to talk with your mortgage broker to find out if you qualify.

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