Can You Avoid Crossing the $417,000 Dollar Line On Your Mortgage
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
The question many real estate agents and brokers are asking their well heeled clients these days is, can you avoid crossing the $417,000 dollar mortgage line on your new purchase. That is the dividing line between a conventional loan and a jumbo loan. With the difference right now between a jumbo loan and a conventional loan almost a full point, and that is if you can find and qualify for one, borrowers on the top end are finding that coming up with the additional down payment can be in their long term best interests.
The course they take can have deep implications for the mortgage industry, the housing sector, and by extension, the economy. If too many potential jumbo-loan borrowers wait it out, chances are the excess supply of homes on the market will swell, further dragging down prices. Home values fell in 15 of 20 large metropolitan areas in the second quarter from a year earlier, according to a report this week from S&P/Case-Shiller.
“Lenders are all putting our collective heads together to come up with a new way to get borrowers into houses,” said Bill McGoey, a senior vice president at American Partners Bank, owned by the thrift holding company Federal City Bancorp of Washington, D.C. “There are tools that we’ve been using forever, but we’ve had to tweak them to suit the current situation.” via delawareonline
Thank you for verbalizing some of my thoughts in a concise fashion.
My Blogs and website pages react to news and ...
I HAVE A BEAUTIFUL HOME IN THE MOUNTAINS OF WNC (ASHEVILLE, NC). WHO DO I CONTACT OR IS THERE ...
great up north michigan retreat for rent for filming...we also have a smaller builder's model and carriage house that would ...
It is a sign of the times. Now, our big banks are fighting each other in a break neck ...
I HAVE A 5 BEDROOM HOME NEWLY BUILT WITH A POOL ON MORE THAN AN ACRE WITH A CULDESAC AND ...
PLEASE CONTACT ME ABOUT THE AUCTION OF MY RESIDENTIAL HOME IN WOODBURY NEW JERSEY.
856-853-8246
THANK YOU
DAVID VAGNONI
523 HUNTER STREET
WOODBURY NJ ...
There are Florida homes still viable and definitely worth looking at.
Check out mine in St. Petersburg.
Virtual Tour SAYS IT ...
Even though I don't like the fact that the bill passed, I'm not sure that there was a better option? 
i have a 3100 sq foot home in mansfield tx (76063) film ready. it was newly built in december 2007. ...
absolutely true for large tenants in the Bay Area. Landlords won't be dropping rents yet but they will start ...
