Monday, July 18, 2011

Mortgage Costs May Rise for Some Borrowers

Conforming loan limits set by the government are changing on October 1 with opinion divided on how they will affect the market. There are fears among some analysts that they will have an impact on the high end markets. Jumbo loans require higher credit scores and a larger down-payment; as much as 35% of the purchase price. However, there are some reassurances that lending will increase to fill the gap.

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