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limit: Jumbo Mortgages in 2010 - Will the secondary market keep forcing ARMs on owners? - 01/13/10 04:52 PM
Jumbo Mortgages in 2010 - Will the secondary market keep forcing ARMs on owners?
Flash back a couple of years, and you'll remember the Federal Government initiating a program to allow Fannie Mae and Freddie Mac to purchase loans greater than $417,000 on a temporary basis. Fannie and Freddie had been limited as part of their charters to a set amount which started at $93,750 in 1980, and which has since been adjusted based on year-over-year housing price changes.
The economic stimulus package of 2008 gave provisions for the limit to be temporarily increased in "High-cost areas" to an amount … (0 comments)
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limit: 2010 Conventional Loan Limits for Rhode Island - 01/12/10 10:52 AM
2010 Conventional Loan Limits for Rhode Island
For 2010, conventional loan limits for Rhode Island have remained at the same level where they stood in 2009, according the Federal Housing Finance Agency, the group that oversees mortgage investment giants Fannie Mae and Freddie Mac. These limits define the maximum loan amount for loans that may be sold to the agencies, which is an important distinction, as the secondary market for loans meeting these requirements is much more active than the secondary market for larger loans, meaning that loans that conform to these size requirements carry much lower interest rates.
For … (0 comments)
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limit: Conforming Loan Limits for Massachusetts for 2010 - 01/11/10 04:30 PM
Conforming Loan Limits for Massachusetts for 2010
For 2010, the Federal Housing Finance Agency has set revised conforming loan limit at $417,000, the same limit it has offered for several years now. Certain counties designated as high-cost areas have received higher limits in conjunction with the economic stimulus package of 2008, extended in late 2009. These extended limits are available through December 31st, 2010.
For Massachusetts, the following counties received higher limits than the national $417,000 cap:
Barnstable County: $462,500
Bristol County: $475,000
Dukes County: $729,750
Essex County: $523,750
Middlesex County: $523,750
Nantucket: $729,750
Norflok County: $523,750
Plymouth County: $523,750
… (0 comments)
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limit: 2010 FHA Loan Limits for Massachusetts - A New Year, Same Numbers - 12/31/09 02:39 PM
2010 FHA Loan Limits for Massachusetts - A New Year, Same Numbers
As I reported previously for Rhode Island and Connecticut, 2010 is an year off from changes in maximum FHA loan amounts, and the same holds true for Massachusetts. Here are the area loan limits, by county:
Barnstable County: $462,500
Berkshire County: $271,050
Bristol County: $475,000
Dukes County: $729,750
Essex County: $523,750
Franklin County: $318,750
Hampden County: $318,750
Hampshire County: $318,750
Middlesex County: $523,750
Nantucket County: $729,750
Norfolk County: $523,750
Plymouth County: $523,750
Suffolk County: $523,750
Worcester County: $385,000
For those who have read the Connecticut article, you'll notice that … (0 comments)
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limit: 2010 FHA Loan Limits for Rhode Island - Unchanged from 2009 - 12/31/09 01:28 PM
2010 FHA Loan Limits for Rhode Island - Unchanged from 2009
Yesterday, I wrote about the updated FHA lending limits for Connecticut. To learn more about the methodology used in calculating limits, I would suggest circling back to that article. Today, I want to pass along the same information for Rhode Island.
This year has been a relatively quiet one in real estate pricing in Rhode Island. Almost all areas saw a decline in value, some very significant. If anything, I believe Rhode Island is fortunate not to have seen its FHA loan limits cut for this year. FHA limits are … (0 comments)
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limit: 2010 FHA Loan Limits for Connecticut - Just How Much Can You Borrow with less than a 5% Down Payment? - 12/30/09 02:15 PM
2010 FHA Loan Limits for Connecticut - Just How Much Can You Borrow with less than a 5% Down Payment?
There are fewer than 36 hours left until 2010, so it's time to start thinking about some of the changes we'll see in mortgages in the New Year. One aspect of lending that changes eery year is the amount that can be borrowed using the government's Federal Housing Administration (FHA) insurance program. Each county across the country is given a different amount based on average home prices within that county.
For 2010, as 2009, certain counties have received higher than normal … (2 comments)
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limit: Updates to Jumbo mortgage limits for 2009 - 11/24/08 04:33 PM
Earlier this year, we learned that the Jumbo mortgage was going to be a bit bigger for a time. For a year, the limit for mortgages purchasable by Fannie Mae and Freddie Mac was temporarily increased from $417,000 to as high as $729,750 through the beginning of 2009 as a component of the Economic Stimulus Act of 2008. That date is now fast approaching.
The original purpose of this temporary change was to address a mortgage market problem that arose in late 2007 and early 2008, specifically that demand for securities backed by Jumbo mortgages had decreased precipitously. By opening those … (0 comments)
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Dan Hartman
Providence,
RI
More about me…
Province Mortgage Associates - (401) 263-8655
Address: 10 Davol Sq, Providence, RI, 02903
Office Phone: (401) 490-4400 x 114
Cell Phone: (401) 263-8655
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Dan Hartman's Blog about mortgages, real estate, and the economy in New England, and the United States, especially Rhode Island Rates, Connecticut Mortgages, Massachusetts Rate Locks, and New Hampshire Home Sales. Let Dan leverage his MBA in Finance and experience as a college professor for you!
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