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Reply to "Am I crazy for thinking that we could afford this?"
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[quote=Anonymous][quote=Anonymous]I am a lender in the Washington DC area and have helped many on DCUM. My advice is to try and keep your loan amount below $417K in order to qualify for the best interest rate and more lenient lending rules. Loan amounts between $417K and $625.5K are considered high balance, command slightly higher interest rates and slightly different lending rules. A loan of $417K would have an estimated payment of $2400 - $2500 / month (principal, interest, taxes, insurance). You may have additional monthly / quarterly HOA fees if you live in a managed development. If you would like more information, please contact me at roger.dennis@caliberhomeloans.com or at (202) 904-9573. Best of luck. [/quote] yup, i would be sure to try to keep it within the conforming loan limit. thanks for the advice[/quote]
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