Westchester Loan Limits Rise to $729,750
News from our friends at Thoroughbred Mortgage says that effective Monday, April 27th, conforming high balance loan limits in Westchester County will be $729,750. "This is temporary and these limits will expire on June 10, 2010. That means that the loan has to close by that date," says Mortgage Consultant Gail Cahaney. "This is great news for our customers because it now means that a person can buy up to $900,000 and put 20% down and have a conventional high balance mortgage. Credit scores must be over 720." Gail cautions that a high balance conforming mortgage is typically 3/8 higher than a conventional mortgage of $417,000 and below.
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