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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Answers

4
Andrew Tisellano’s answer
Hi
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
216-496-0211
greg.bleyl@charteronebank.com
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.

Tony
0 votes Thank Flag Link Wed Mar 27, 2013
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