November 29, 2011 Mara Bushari

After months of deliberation,  Congress and President Obama have signed off on new rules to scale back mortgage limits. This continues the previous emergency status they were placed in back at the beginning of 2009. If it sounds scary, its only because emergency status allows more money to be borrowed for the mortgage, allowing homeowners access to extra money. Intimidating as the name may be, its certainly a good thing for first time home buyers and potential buyers looking to upgrade.

This is only applicable to FHA-secured loans. The loan limits are here to stay until the end of 2013, when they will once again undergo evaluation. Freddie Mac and Fannie Mae mortgages will stay at the previous level of 115% compared to the 125% level of other FHA-secured loans. The amount differs as to the amount of families in the home. In other good news, interests rates are still holding low, which means less out expense for homeowners.

If you’re looking to buy a home, let us help you. Browse our wide selection of properties or lofts for sale now. All data was compiled by GBAR.

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Mara Bushari

Mara is a creative thinker and strategic marketer. She graduated Summa Cum Laude from Boston University’s College of Communication and worked in international finance before joining The Bushari Team. Mara strives to exceed expectations. As Client Relations Specialist, she is a key facilitator in all team transactions, making the buying or selling process as stress-free as possible for the client. Mara learned many of her extraordinary organizational and problem-solving skills during her service in the Israeli Defense Forces, where she earned the “President’s Award” for exceptional service. In the military, Mara solidified her abilities to achieve top results in high pressure and time sensitive situations. In her spare time, Mara enjoys skiing, photography and writing.

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