Good news for Jumbo mortgage holders! If you have a current mortgage balance under $548,000 most likely you have a higher rate than necessary. The increase in 2021 for conforming home loan limits are increasing to $548,250 for a single-family unit in most parts of the U.S. This increase is up from the previous limit of $510,400 in 2020. Conforming loan limits in 2021 can go as high as $822,375 in Alaska and Hawaii in 2021. So for example, if you have a current Jumbo mortgage with a balance of say $530,000 you can now potentially qualify for a better conforming loan interest rate.
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