Home Buying in 07044>Question Details

Olimits7, Renter in Nutley, NJ

What is the "conforming" loan limit in Essex county? Also, what would be the difference in interest rate between a "conforming"

Asked by Olimits7, Nutley, NJ Wed Mar 27, 2013

vs "jumbo" loan?

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Andrew Tisellano’s answer
It would be best to speak with a local mortgage professional.
Call Craig.

Craig Andriulli
Vice President
NMLS #212830
Bond Street Mortgage, LLC
NMLS #191351
Cell: 201-647-4180
Office: 201-918-4980
Fax: 201-918-4981
Email: Craig@BondStreetLoans.com
0 votes Thank Flag Link Thu Mar 28, 2013
$625,000. Anything over that would be a jumbo loan.
0 votes Thank Flag Link Thu Nov 21, 2013
Presently our Portfolio Jumbo loans have better rates than our Fannie Mae conforming mortgages. Please call or email below.

Greg Bleyl
NMLS 117969
0 votes Thank Flag Link Tue Aug 20, 2013
Essex County is what's known as a "high loan balance" county, and the conforming limit there is $625,500.

As far as the rate differences, there is no rule, but in general you should expect to pay .25% to .50% higher on a jumbo fixed loan. I've got jumbo ARM's available though that are lower than conforming rates.

If I can be of assistance please shoot me an email.

0 votes Thank Flag Link Wed Mar 27, 2013
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