Financing in Irvine>Question Details

Carol, Other/Just Looking in Woodbridge, Irvine, CA

jumbo conforming loans

Asked by Carol, Woodbridge, Irvine, CA Mon May 12, 2008

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Good News about high conforming loan rates. They have finally come down to the very attractive levels that we had hoped for when they loan limits first changed. Here are the limits for Orange County.

This is a great opportunity to buy an owner occupied duplex-fourplex.

1 Unit Home - $ 729,750

2 Unit Home - $ 934,200

3 Unit Home - $1,129,250

4 Unit Home - $1,403,400

Click on the web reference below for more information about the rate changes and other information about buying or selling in Orange County.
1 vote Thank Flag Link Tue May 13, 2008
Over the week-end Fannie mae announced that the would now buy what is called "Jumbo -Conforming" loans (that would be loans between the old limit of $417,000 and the new limit of $729,000) at the same interest rate as they had previously offered on Conforming rates. This effective reduces us to just 2 tiers of loans and make sthe Conforming Jumbo loan much more affordable. If you do not already have a loan professional with whom you feel comfortable, I have relationships with lenders at Bank of America, Welss Fargo, Washington Mutual and CountryWide. These are direct funding lenders and not brokers. I would be happy to arrange for you to get pre-Approved so that you can get in on one of the biggest housing sales in history.

Bill Godwin
First Team Real Estate
Web Reference:
1 vote Thank Flag Link Mon May 12, 2008

Loan Limit Increased to $729,750. Did you need some additional information? Please give me a call or email me with additional questions if you wish, or go onto my website.

Joe Homs
Realty Partners
Web Reference:
0 votes Thank Flag Link Mon May 12, 2008
Per my mortgage broker, today's rate for a 5/1 LIBOR, Jumbo Conforming mortgage is 5.375%, 5.875% on a 30 year fixed rate. Your mileage may vary.

At least it looks like they are finally starting to act the way they are suppose to.
0 votes Thank Flag Link Mon May 12, 2008
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