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fort worth luxury homes: 2008 Stimulus Plan Aids Buyers of High-Priced Homes
- 03/18/08 07:17 AM
· For a high-priced home, 1% can make a big difference. A monthly payment on a jumbo 30 year loan of $729,000 at 7% would be $4,850. Monthly payments on a conforming loan of the same amount at 6% would be $4,371, a difference of $479
· The change in loan limits, which allows the federal housing agencies Fannie Mae and Freddie Mac to purchase or guarantee the mortgages, is intended to encourage lenders to write more mortgages because they can easily sell them to the agencies.
· It should also stimulate house buying and mortgage refinancing. As the thinking goes, … (0 comments)
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· For a high-priced home, 1% can make a big difference. A monthly payment on a jumbo 30 year loan of $729,000 at 7% would be $4,850. Monthly payments on a conforming loan of the same amount at 6% would be $4,371, a difference of $479 
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