Hope that everyone is ready for the NEW YEAR, I know that I am completely ready!!! I have lost a lot of weight and will continue on with that goal, I also want this year to be the best in Real Estate. I have a lot of work to get to. Setting goals is a way to keep you on track and to monitor yourself and work habits. Everyone always suggests putting it down on paper, so I will do that and see if it keeps me on track, it couldn't hurt!!!
Here are new guidelines from FHA for the New Year, I thought it would help.
New Year, New FHA Mortgage Limits HUD Secretary Steve Preston has announced new limits on the mortgage amount insurable by the Federal Housing Administration beginning January 1, 2009. Under the 2008 Housing & Economic Recovery Act, limits are set at 115 percent of a market’s median house price. They can’t be lower than 65 percent or higher than 150 percent of the national conforming limit of $417,000. Preston says the limits will ensure FHA can to continue help struggling homeowners refinance and allow many first-time buyers take advantage of today's buyers market.
It is a great time to buy a home, prices have dropped and interest is at all time low. Loans are beginning to become available, So give me a call and lets get to work.
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