Home loans come in many sizes and shapes, each one tailored to the lender and the property; however, there is a very important number that is used to determine the rates – the conforming loan limit. This is set by the government (FHA) as the largest amount that the lenders can bundle and sell back to the government. In most parts of the country they are limited to $510,400 but as a high value area our conforming rate is now $765,000 up from $510,400. There are obviously other criteria in qualifying for a loan, but this increase in the conforming limit along with historically low interest rates should make your home purchase easier.
Speaking of easy, that is my mission as well. I am always there to support you.