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  1. #1
    Registered User Junior Member
    Posts
    35

    New Conforming Mortgage Limits

    For the first time in just about forever, Fannie Mae raised the limits for conventional mortgages. Starting in January 2017, limits will be $424,100. (Higher in Alaska, Hawaii, US Virgin Islands and Guam and designated high cost areas).


  2. New Conforming Mortgage Limits
  3. #2
    Registered User Junior Member
    Posts
    21
    I see that home prices finally got back over 2006 highs, so this seems like a good move. Keeps home affordable.

  4. #3
    Registered User Pro Member
    Posts
    572
    Just keep making the bubble bigger ... because the American public never tires of bailing out Fannie Mae or paying too much in homeownership costs.

  5. #4
    Registered User Senior Member
    Posts
    240
    Hey, prices are rising. (When don't they?) Everyone needs to live somewhere. Glad that Fannie recognizes that.

  6. #5
    Registered User Junior Member
    Posts
    43
    Did you know that underwriting standards let you spend 43% of your income on your mortgage payment (I think taxes and ins included). Once you add income, social security taxes, car payment, student loan, what exactly is left to live on, let alone be able to spend on maintaining the house?

  7. #6
    Registered User Senior Member
    Posts
    189
    Those are interesting numbers, McHale. This whole thing is so ridiculous. The government is using colleges and mortgages to turn us into a nation of dependents and debtors.

  8. #7
    Registered User New Member
    Posts
    17
    A debt jubilee is the answer.

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