The Economic Stimulus Act of 2008 signed into effect in February brought about many great opportunities to home buyers in California (and nationwide!) -
JUMBO LOAN LIMITS ARE UP! Previous limits were $417,000, the new limit is now $729,750 WOW! But you must act fast! Limits expire as of December 31, 2008.
Go to this link to check loan limits in YOUR AREA of California: https://entp.hud.gov/idapp/html/hicostlook.cfm or you can use this map: www.fhaoutreach.com
Yesterday, despite the 100 + degree weather, I held an Open House in Covina and had about 50% more buyers than previous months. Although the weather was awful, people are actively searching for a wonderful home because rates are still low and the prices are wonderful, too! There is plenty of inventory to choose from and there are sellers willing to make concessions! These loan limits are allowing more people to realize the dream of owning a home with a good loan package.
As always, if you have any questions - or have a friend or family member with questions, please feel free to pass them through my comments section on my blog (it is public, though, so do not leave personal information) or you may email me anytime at:
stacy.dover1@era.com
Happy Summer!
Stacy
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