jumbo mortgages: Urgent: No More High Balance Conforming Loans for Manhattan
- 06/01/11 11:22 AM
There have been a lot of blogs lately about mandatory 20% down payments, QRM, and increases in FHA minimum down payment requirements. There have been some lively and heated debates on the subject. While I commented and stuck my two cents in, for the most part it's moot in the Manhattan market. Manhattan is an expensive market, it's also a market with high-paying jobs and high incomes. It is also a market with 50% of transactions all cash. Short sales, foreclosures, sub prime, REO, FHA not terms we're very concerned with. Buyers here have always had skin in the game. A … (17 comments)
jumbo mortgages: Manhattan (NY) Loan Limits Return to $729,750 until 12/1/09
- 02/20/09 12:33 AM
The House and Senate passed the stimulus package called the "American Recovery and Reinvestment Act of 2009" President Obama signed the bill on Tuesday.While many real estate professionals and home buyers were hoping for a $15,000 tax credit for all home buyers without income caps that was introduced in the Senate unfortunately the final bill only includes an $8000, tax credit for first time home buyers that earn less than $75,000 per year ($150,000 on a joint return). The bill includes a return to the higher temporary loan limits put in place for Fannie Mae, Freddie Mac and FHA. during 2008. … (1 comments)
There have been a lot of blogs lately about mandatory 20% down payments, QRM, and increases in FHA minimum down payment requirements.
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