You can still split the loan in 2. I can offer a 1st mortgage at $417,000 with a fixed rate 2nd mortgage up to $150,000. Combined financing of $567,000, with a purchase price of $700,000 you would need $133,000 down. True Jumbo loan pricing is rough, even the portfolio lenders that were agressively priced have become less aggressive as the funds available are limited.

Hi SS!

My company just hosted a Home Buyers Seminar yesterday in which the guest loan officer spoke about customizing financing programs for every buyer. Additionally, if you are buying in the Northborough area, several of the towns qualify for a "RURAL HOUSING" program.

Basically, there is a program for everyone so just ask! In "today's" market, the smaller banks can often be more flexible. If you want the name of that loan officer that I referred to earlier, please email me at judyboyle1@verizon.net. Good luck!!!!!!

Judy Boyle
Weichert, Realtors - ComVest Residential
Northborough, MA

There are higher loan limits in many parts of the state as set forth by FNMA. It is dependent on the town you are consider purchasing in. I don't think any one is willing to do a split loan anymore. The exposure is to great on the second loan. https://commlend.efanniemae.com/LoanLimitGeocoder/pages/Login.aspx is a geocoder from FNMA that will tell you what the conforming and jumbo limits are per address. The best thing to do is contact a loan officer. There are many little caveats that go along with the limits. A good loan originator should be up on that.

Some areas of MA offer higher conforming loan limits for 2009.

Dukes County MA $625,500
Nantucket County MA $625,500

Go to your local banks...lenders and get more info.
GOOD LUCK!