Up, Down, All Around (in the real estate mortgage world)!!!

December9


Up & Down – Ciara
 

FHA lowered the loan limits in October, but has reconsidered and now the limits are back to previous levels.  Good till 12/12.  And, you wonder why no one can keep up with what’s happening in the mortgage world!!??

  • Single Family Residence       –                417,000                       
  • 2 Unit                                                  -                 533,850           
  • 3 Unit                                                  -                 645,300                                   
  • 4 Unit                                                  -                 801,950                       

 Remember, you can get into an FHA secured mortgage for as little as 3.5% down!

 VA  Same as above, however there is such a thing as a VA Jumbo loan.  A jumbo loan is a loan amount (after down-payment) of more than $417,000 on a single-family home in the Portland Metro area.

  • Single Family Residence       –                417,000                       
  • 2 Unit                                                  -                 533,850           
  • 3 Unit                                                  -                 645,300                                   
  • 4 Unit                                                  -                 801,950                                    
Remember, qualified veterans can get into a VA loan for 0% down-payment!  Loans above these limits need relatively low down payment and no mortgage insurance.  For example, a $500,000 purchase needs a 4% down payment!!

About the Author | Janeese Jackson

My job is service...service to you and your real estate transactions! How can you benefit from my 25+ years of experience and expertise? What can I offer to make the process more productive? * Current information on available housing...comparative and competitive market pricing and analysis * Daily involvement in the local real estate marketplace * Thorough, comprehensive knowledge reflecting years of helping others complete their real estate business * Extensive network of professional resources to make the process as smooth as possible My commitment is to you! Being available to you...returning your calls...answering your questions...addressing your concerns...respecting your money...matching your timeline...meeting your expectations...helping accomplish your real estate goals!!

Leave a Reply

*

Live Comment Preview