In Alaska, the conforming loan limit is set at 150% of the baseline limit. If the baseline limit is $766,550, what is Alaska's conforming limit?
Correct Answer
A) $1,149,825
Alaska, Hawaii, Guam, and the U.S. Virgin Islands have conforming loan limits set at 150% of the baseline limit. $766,550 × 1.50 = $1,149,825. This is due to higher construction and living costs in these areas.
Why This Is the Correct Answer
Alaska, Hawaii, Guam, and the U.S. Virgin Islands have conforming loan limits set at 150% of the baseline limit. $766,550 × 1.50 = $1,149,825. This is due to higher construction and living costs in these areas.
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