Easy to obtain loans???
Published by Rick on Tagged UncategorizedWow… I just heard great news that affects almost every buyer looking for Sedona Real Estate. As you may or may not know, the federal government has put forth an economic stimulus package to help people with their loans. The most important piece of this that’s been proposed is a higher limit on conforming loans. The current top loan amount is $417k - anything more is considered a Jumbo loan and has much higher rates. In places like Sedona, where prices are higher - Jumbos are common… so this proposed plan will raise the $ amount to $625k. This will make more Sedona homes affordable and really kick the market into gear. If this passes, look for an uptick in activity for homes over 700k!!!




January 29th, 2008 at 8:08 am
Yes, it will be easier to qualify for these higher conforming loan amounts. The Fed is also helping affordability by easing fed funds rates. Another .25-.50% drop expected tomorrow. As stimulus effects kick in, these rate levels may not last very long. Markets look forward.
Chris Seymour
Country Mortgage
March 5th, 2008 at 12:35 pm
Thanks for the feedback… I’ve just posted another blurb about using a local lender for Sedona transactions!!!