home buyers: It's September. Buyers, do you know where your home loan is?
- 09/05/11 03:01 AM
On October 1, 2011, conforming home loan limits which are currently at $ 729,750 in Southern California will be reduced to $ 625,500. This means that home loans above $ 625,500 will be priced as jumbo loans, which carry higher interest rates and are more difficult to qualify for because they are not backed and insured by the government. Irvine Home buyers who have been putting off purchasing a home in the hopes of lower real estate prices may find that, once they decide the time is right to buy, home loans are a lot harder to get. The tightening of available loans is likely to continue. … (0 comments)
On October 1, 2011, conforming home loan limits which are currently at $ 729,750 in Southern California will be reduced to $ 625,500. This means that home loans above $ 625,500 will be priced as jumbo loans, which carry higher interest rates and are more difficult to qualify for because they are not backed and insured by the government. Irvine Home buyers who have been putting off purchasing a home in the hopes of lower real estate prices may find that, once they decide the time is right to buy, home loans are a lot harder to get. The tightening of available loans is likely to continue.
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