Harvey Realty, Inc.

A new federal measure now allows Fannie Mae and Freddie Mac to buy conforming loans up to 125% of the area median home price, up to $729.750.

In an area like Ventura County this means that home owners and home buyers will able to avoid borrowing at nonconforming jumbo loan rates and/or the premium for "piggyback" loans. And because now a home buyer of a median priced home can borrow under conforming loan guidelines they can have more advantageous terms like less money down than what might be required under nonconforming guidelines.