WARNING: Max Home Loan Limits With Favorable Rates Dropping from $729,750 to $625,500

by Gilda Duhs on July 16, 2011

in Coastal Views Real Estate - Latest News, How's The Market

Beginning on October 1, 2011, the maximum conforming home loan amount will drop from the current $729,750 to $625,500. Currently, loans are considered jumbo loans if they are greater than $729,750. In the future, loans greater than the $625,500 will be considered jumbo loans with higher interest rates.

What this means for you

If you are a seller of a home priced at greater than $850,000, for example, the number of qualified buyers able to purchase your home will dwindle after September 30, as their purchasing power will be less. Call Gilda Duhs, your Laguna Beach and Laguna Niguel real estate specialist to see what you can realistically sell your home for today! Meet with her to discuss ways to sell your home before October 1.

If you are a buyer, this means that starting October 1, your buying power will be reduced. You have a narrow window of opportunity. If you have been contemplating whether now is the right time for you to buy, meet with Gilda Duhs to discuss your options now and in the next few months. Don’t delay because you may miss your chance to qualify for a loan of $729,750. Call Gilda Duhs today (949) 683-7232.

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Post by Gilda Duhs

Gilda has written 204 articles.

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