FHA Jumbo loans - the window of opportunity closes soon
The 2008 Stimulus act loan limits expire soon, December 31, 2008. We are getting numerous inquiries asking what the limits will be on Jan 1, 2009, as they were lowered for most counties accross the USA in the latest housing bill. We don't have the details from HUD yet on the new loan limits except for two facts. The maximum will now be $625,500 anywhere, and it will be based on a factor above the average home price. Well, home prices have decreased significantly over the past 6 months since the stimulus limits were set, so we can expect the new limits to be much lower accross the board, even lower than the new cap.
Check back with us soon as will post the new limits as soon as we receive them from HUD.
For your new home purchase, or the purchase of your Buyers, if you are looking at homes that are between $417K and $800K, call us now to find out how much you might save with today's competitive FHA Jumbo rates. These are good for Purchase of a home as well as Refinance.
Monday, September 8, 2008
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