Quote:
Originally Posted by widebody911
http://www.bankrate.com/brm/rate/mtgRsearch_product.asp?params=132000.00,CA,54&refi=1&product=0&pct=0&points=6
NOTE: The amount you have entered is below $165,000, the minimum amount for a conventional loan (for definitions, use our glossary). The quote that you are about to see is based on a loan amount within the range of $165,000 to $474,950. Since the amount you have entered is not within that range, the rates, points, fees and terms of your loan may vary from those quoted. Please call the lenders directly to discuss available options and details.
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That's just guidelines for that lender then- fannie mae would still purchase the loan and consider it conforming.
Some lenders don't like to give out small first mortgages, although I usually see the minimum amount at $100k
I haven't had a job or seen any loans since 2007 though so what do i know!?