The conforming loan limits have officially been raised in higher priced counties accross the US.
The current conforming loan limit is 417,000, any loan above that is considered a Jumbo Loan.
Now, the new conforming loan limit is 729,750. Which means many people will be able to refinance into a much better loan that used to have a jumbo loan.
Click here to see if your county is included in the loan limits
http://www.ofheo.gov/media/hpi/AREA_LIST.pdf
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