Financing in Port Washington>Question Details

Leo, Home Buyer in Great Neck, NY

the conforming loan limit in port washinton area is 417k or 625k? thanks

Asked by Leo, Great Neck, NY Thu Sep 10, 2009

Help the community by answering this question:


The new conforming loan limits are assigned by the county itself, not a specific region within the county. Currently, there are essentially 2 conforming loan types in Nassau county - Standard and Jumbo. The standard conforming loan limit is $417,000 and the jumbo limit is actually $729,750, not $625,000.
Also, keep in mind that the jumbo loan limit also applies to an FHA loan so you can actually go with an FHA loan in Nassau County for only 3.5% down vs. putting at least 10% down for a conforming loan.
If you have any questions about loan products or rates, feel free to contact me.
Luke Allison
Bank of America Home Loans
0 votes Thank Flag Link Thu Sep 10, 2009
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