There are three main classifications when it comes to loan balances in L.A. County. They are:
1) $417,000 and less: Traditional conforming. Your best rates will be found here.
2) $417,001 to $729,750: "Super-" "hi balance-" hi cost-" or "jumbo-" conforming loans. This tier will still offer flexible approvals and very good rates, though not quite as low as Option 1.
3) $729,751 and above: Traditional jumbo. This is the most distressed segment of the lending economy. Rates will be highest in this group.
Your loan will fall into the second category above and if you need any information or details, just get in touch.
Bank of America Home Loans