Reduced Caps for Jumbo Loans Coming Soon!

Even though the reduced cap on Jumbo loans does not take effect until October, many banks will begin the stop offering the higher amounts with concerns of gettiing the loans closed before the deadline.

http://online.wsj.com/article/SB10001424052702304223804576446042270052566.html?mod=WSJ_RealEstate_LeftTopNews

Finger Lakes waterfront homes buyers may want to take this into account while relative rates for Jumbo's are so low but before the lower cap on loan amounts are imposed!

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