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jumbo loans: And The Best Time To Get A Jumbo Loan Is.....NOW - 03/07/08 11:03 PM
Ok, I wrote this post as an update on my previous post "The best time to get a jumbo loan is....not now".
Well as of today that post is null and void. Lenders are now accepting new loans with the increased conforming loan limits. These limits vary by county, however in high cost areas they are up to $729,750, which completely trumps the old limit of $417,000! Fannie Mae & Freddie Mac now have permission to purchase these loans from the bank up until December 18th, 2008.
Below is an example of the estimated savings of the old jumbo loan to … (2 comments)
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jumbo loans: The Conforming Limits Are Being Raised to What?! - 01/28/08 07:48 PM
There has been a lot of talk lately about the government allowing Fannie Mae and Freddie Mac to raise their conforming loan limits. I have also heard a lot of speculation that FHA is going to raise their limits as well. Unfortunately I have also been hearing a lot of rumors, lies and complete misinformation being fed to everyone, including buyers, sellers, agents, loan officers and everyone else in this mess, so I wanted to get the actual facts out to everyone.
First, the government is considering (meaning NOT finalized) allowing Fannie Mae and Freddie Mac to raise their conforming loan limits … (1 comments)
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jumbo loans: Drum Roll Please....And The Best Time To Get A Jumbo Loan Is.... - 01/25/08 02:51 PM
NOT NOW! That's right. The best time to refinance a jumbo loan is to wait until April 1st. Before all of you start wondering if I have fallen off of my rocker let me explain. I just received word that the conforming loan limits are going to be raised for 2008, and only 2008. The Feds have finally done something to help those people in higher cost states like California, New York and Florida to name a few.
The conforming loan limits are currently at $417,000, which for those of us in California or other high costs states, means that if you purchase or refinance a … (5 comments)
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Charles Tharp ~ Inland Empire Real Estate & Short Sale Specialist
Fontana,
CA
More about me…
Prudential California Realty
Cell Phone: (626) 374-1278
Email Me
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