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New Home Loan Limits Announced

PLEASE NOTE:  HomeStreet Loan Officers are now able to quote rates and fees on both FHA and Conventional loans within the higher limits.  However, we are still updating our online loan center, so please call your local Loan Officer or our Customer Service Center at 800-809-1377 for a rate quote on these loans.

Federal Housing Administration (FHA) loan limits have increased in most areas, while conventional loans limits have increased in certain “high cost” counties.

  • Customers seeking to purchase or refinance properties will be able to take advantage of increased loan limits where available.
  • FHA loan limits are being raised, in part to allow borrowers to refinance out of Adjustable Rate Mortgages (ARMs) into fixed-rate loans.   These limits are set by the U.S. Department of Housing and Urban Development on a county-by-county basis.

    View a list of the new FHA loan limits in your state at the following links:
Oregon Washington Hawaii
  • Conventional conforming loan limits ($417,000 in Washington and Oregon, $625,500 in Hawaii for single family homes) are also being increased in high cost areas.  These loans are for single family properties (including condominiums) only, and are restricted to purchase and “no cash back” refinances of first mortgage loans only.

    View a list of conforming loan limits in your state at the following links:
Oregon Washington Hawaii
  • The initial interest rates on loan amounts above the former FHA and conventional conforming limits are slightly higher than those within the old limits.  However, they are considerably more attractive than rates found on other high balance (“jumbo”) loans.
  • These changes are scheduled to be effective only until the end of 2008, unless extended by Congress. Check back frequently for updates – more details will be added as they become available.

Call 1-800-809-1377 or contact your local Loan Officer for the latest information.

GeoTrust, Equal Opportunity Lender, FDIC