Did you know that there are potential benefits of the economic stimulus package to homebuyers?

In the spring of 2008, Congress approved legislation that raises the ceiling on the dollar amounts of the loans the FHA can insure. In the past, homebuyers who needed bigger loans typically applied for "jumbo loans" that carry a higher interest rate than standard "conforming" loans. In raising the "conforming loan limit" from $362,790 to as high as $729,750 in some markets, more people will be able to buy homes at a lower interest rate. The conforming loan limit is tied to the market area's median home price, which is set by the FHA.

According to the legislation, eligible loans must be made between July 1, 2007, and December 31, 2008, when the conforming loan limits will revert to existing levels (unless Congress extends the cut-off date). This legislation has been established for a temporary period of time to help stimulate the economy, creating in effect a strong call to action.

Please contact me with any of your  Real Estate and/or Relocation needs:

Pam Jank, Realtor, GRI, CRS, ABR, RRS, PPS
Your North Idaho Real Estate Pro
FREE MLS Listings Search at:
Web:  Coeur d'Alene Idaho Homes for Sale
email to:pamjank@hotmail.com
Phone:  208-661-2282
Fax:  208-772-628 Toll Free:  800-829-2555 EXT.1275
COLDWELL BANKER SCHNEIDMILLER REALTY
435 W. Hanley Avenue
Coeur d'Alene, ID  838315