TEMPORARY CONFORMING LOAN LIMITS EXPIRE SEPTEMBER 30TH , 2011
Conforming
Loan Limits were originally raised in February 2008 as part of the
economic stimulus package. The Federal Housing Finance Agency is
expected to reduce conforming loan limits on mortgages guaranteed by
Fannie Mae and Freddie Mac this October. The limits will fall from
$729,750 to $625,500.
This will make mortgages more expensive and harder to get for buyers. (i.e., Higher down payment and interest rates) We are seeing that the higher end market is picking up as a result of this news.
Rates over the last week have also been at an all time low since early December.
A big thank you to Ayata Colbert, a lender here in Oakland who made
sure to pass this news on to her network of Realtors so they could reach
out to their clients. Thanks Ayata!
Do you want to contact Ayata direct to talk about this and how it effects your plans?
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Ayata Colbert Senior Loan Officer NMLS# 308143 6472 Moraga Avenue, 2nd Floor Oakland, CA 94611 Direct: 510-339-5923 Cell: 510-229-8636 Fax: 866-850-1288
Elisa Uribe Realtor #0142707
Opening the Door to Opportunity
Wells and Bennett Realtors
elisa@rockridgedigs.com
Office :510-485-7272 Fax: 866-230-9144
If someone you know seeks an experienced, honest Realtor, I'm never too busy for your referrals.