Loan Limits Increasing

I have been hearing it all day and it looks like the house and the senate have passed a bill that will increase the loan limits for not only FHA but for FNMA.  What does this mean?

More people can afford to buy a home in the former jumbo area and conforming rates and it increases FHA loan limits to those buyers that have little to no credit, but great jobs to buy a house that they really like.  Also, it will allow hundreds of thousands jumbo loans to be refinanced into a much better saving them thousands of dollars a year.

This will bring more buyers back to the market and I really do believe help a lagging real estate market.  If you are looking for new and better ways to help market your home in NW Indiana, SW Michigan and the Chicago area give me a call.  I ready and willing to help you make 2008 - Well, Great.

Dave Woodson

Your Mortgage Consultant for Life

 
Post is included in group: LaPorte County Indiana

3 Comments on Loan Limits Increasing

Hi Dave, thanks for the update, great news. I have been waiting for a decision for a while now.

Yes, it will definitely help this market out.  A positive move, long overdue.  I will stay tuned in.

davidmccloskey.tarbell.com

02/08/2008 12:17 AM by David A. McCloskey (Tarbell, Realtors)

This is great news.  We will see how it plays out in ILL.

02/08/2008 01:56 PM by Dave Cheatham (Indigo)

Do you know what the new limits for IN will be Dave ?

Sincerely,

Grace

02/12/2008 12:23 PM by Jeff & Grace Safrin-SpousesSellingHouses REALTORS, F.C.Tucker Company, Indiana (F.C.Tucker/Advantage Realty)

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Loan Officer: Dave Woodson (Indigo Financial Group Inc.)
Dave Woodson
Portage, IN
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Indigo Financial Group Inc.

Office Phone: (219) 872-8000 Ext.: 106
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