Florida Real Estate News and Info

Increased Loan Limits This Year Only
The Economic Stimulus Act of 2008 did more than just authorize rebate checks. It also increased loan limits for Fannie Mae, Freddie Mac, and FHA-insured mortgages in many regions throughout the country. For those looking to purchase real estate in a "high-cost region," these loan limit increases could help you avoid the higher interest rates associated with jumbo loans. For current homeowners looking to refinance into a new “conforming loan,” this could be your best chance in all of 2008.

What’s the catch? This legislation is a temporary tool designed to stimulate the economy and the housing market through 2008. This means qualifying mortgages or refinances under this plan must be in place before the end of the year. If you or someone you know would like more information on how to take advantage of this rare opportunity from the government, give us a call right away. We’ll run the numbers and show you how much you can save.