Blog | Gibson International » Mortgage News http://gibsonintl.com/blog Luxury Real Estate in Los Angeles Tue, 21 Feb 2012 23:13:17 +0000 en hourly 1 http://wordpress.org/?v=3.3.1 Exciting News! FHA Loan Limit Increase http://gibsonintl.com/blog/exciting-news-fha-loan-limit-increase/ http://gibsonintl.com/blog/exciting-news-fha-loan-limit-increase/#comments Wed, 16 Nov 2011 19:52:15 +0000 HayleyGibson http://gibsonintl.com/blog/?p=2720

Great news! Congress passed a compromise bill yesterday to temporarily reinstate the FHA loan limit to $729,750. This limit applies to high-cost areas, including Los Angeles and Orange counties. The increase is expected to become law and will be effective for FHA loans funding through 12/31/2013. FHA loans, compared to conventional, provide for smaller down [...]]]> First Capital MortgageGreat news! Congress passed a compromise bill yesterday to temporarily reinstate the FHA loan limit to $729,750. This limit applies to high-cost areas, including Los Angeles and Orange counties. The increase is expected to become law and will be effective for FHA loans funding through 12/31/2013.

FHA loans, compared to conventional, provide for smaller down payments, lower credit scores, and higher debt-to-income ratios. This increase should open a door for buyers looking in the $700,000 to $900,000 price range that were previously shutout in the fall.

At this time the conforming limits for Fannie Mae and Freddie Mac remain at $625,500. If information becomes available regarding changes to these loans we will let you know.

For additional information please contact our  fantastic mortgage partners at First Capital Mortgage, Dan Mill Stone and Eric Singer (contact info below):

Dan Millstone
(310) 295-7475 – Direct
(310) 295-7476 – Cell
dmillstone@firstcapitalmtg.com

Eric Singer
(310) 656-8269 – Direct
(310) 721-6105 – Cell
esinger@firstcapitalmtg.com

]]> http://gibsonintl.com/blog/exciting-news-fha-loan-limit-increase/feed/ 0 Washington Biz Journal-Freddie Mac allows financing of 125% of home value http://gibsonintl.com/blog/washington-biz-journal-freddie-mac-allows-financing-of-125-of-home-value/ http://gibsonintl.com/blog/washington-biz-journal-freddie-mac-allows-financing-of-125-of-home-value/#comments Wed, 01 Jul 2009 21:50:03 +0000 Gibson International http://gibsonintl.com/blog/?p=190 Freddie Mac announced Wednesday that it would offer loan-to-value ratios on home mortgage refinancings of up to 125 percent for qualified borrowers.

The announcement comes as the Obama administration raised the maximum allowable loan-to-value (LTV) ratio from 105 percent.

Read more at the (source)
Article written by Bryant Ruiz Switzky of the Washington Business Journal

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