Market Update:
Rates continue to be volatile, but are still at historically low levels.
Check out my 4.125% - 5 year Fixed money – LOW!! The rate sheet is attached.
Conforming & FHA Loan limits have been increased to 500K for the rest of 2009. The bad news is that these agency jumbo loans are not yet available in the market place. So we don’t know the pricing or stipulations yet, but I will update you with more as it unravels.
FHA & VA has also just raised its minimum fico score requirement to 620, yes that’s correct. Any loan’s currently in the system must be approved soon, to be grandfathered in.
***If I have given you a pre-qualification please get with me to verify FICO scores.***
If you have a loan in process and the interest rate was not been locked, they will need to be locked by March 7th to be eligible.
Please let your friends and clients know!
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