Remember the “Temporary Conforming Limit” is just that…

If you are buying or refinancing your home and the location of the home falls within the temporary conforming limit (and you qualify per the lender’s guidelines), just remember that the temporary limit (in NYC, its for loan amounts between $417,001 - $729,750) that limit expires on 12/31/08.  If you are closing somewhere near that date its probably a good idea to discuss this with your loan officer - you don’t want any holiday surprises…

Does your area fall within the “Temporary Conforming Loan Limit”?  Click the link below to find out:

https://entp.hud.gov/idapp/html/hicostlook.cfm

Daniel