Home > Blogs > California > Los Angeles County > Palos Verdes Estates > Update on Conforming Loan Limit and affect on Palos Verdes Real Estate
128,230 views

Palos Verdes Real Estate Blog

Palos Verdes & South Bay Real Estate Blog

By George Fotion | Broker in Palos Verdes Estates,...

Update on Conforming Loan Limit and affect on Palos Verdes Real Estate

Uncle Sam has thrown California and other high-priced housing markets a lifeline.

image

“President Obama on Friday signed into law a bill that will reinstate higher limits for Federal Housing Administration-backed mortgages in high-cost areas. In expensive housing areas such as Los Angeles and Orange counties, the limit for these FHA-backed loans had dropped to $625,500 from $729,750 on Oct. 1. The change became effective Friday.” You can read the rest of the story here

This is incredibly important for folks that want to buy Palos Verdes homes for sale. The difference in the down payment necessary to buy the median priced home for sale in Palos Verdes is over $100,000. And as a result of this change in the loan limits, Palos Verdes real estate will be just a bit easier to sell and provide buyers more latitude to use that cash for improvements to the home instead of down payment. In turn, that will help boost the economy.

For more information on homes for sale in Palos Verdes, please follow the links below.

Homes for sale in Palos Verdes Estates
Homes for sale in Rolling Hills Estates
Homes for sale in Rancho Palos Verdes
Homes for sale in Rolling Hills
South Redondo Beach homes for sale
Hermosa Beach homes for sale
Manhattan Beach homes for sale
South Torrance homes for sale
George Fotion
Call Realty Company
(310) 346-6467
gfotion@emailtreo.com
 
Copyright © 2014 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer