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Brett Boyke

High Balance Conforming Loans Supersized

Tuesday, December 4, 2012 - Article by: Brett Boyke - Wintrust - Message

In Agency High Balance Loan areas, the use of a high loan to value HELOC is a great way to stretch your purchasing power and reduce your down payment.

For example, in Arlington County VA the Agency (Fannie Mae/Freddie Mac) High Balance Loan Limit is $625,500. Taking out a first mortgage at 80% or less (in order to avoid mortgage insurance) and a HELOC for the balance up to 90% or $750,000, whichever is less, is allowable. Having an Agency loan at a historic fixed interest rate, and minimizing out of pocket cost is a win win....

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