Wow, I hope you’ve had an exciting week like I have! Yesterday we got the announcement that the conforming loan limit / FHA limit for Riverside County has increase to $500,000 for single family homes. We are still waiting to be able to lock loans at the new limits. You’ll notice on my rate sheet (attached) that I am still using the conforming loan limit of $417,000 until I am able to lock. Also, there are specifics we are verifying regarding these new limits! As I get more information I’ll pass it along.
This week I’ve attached two articles you should read.
DO YOU HAVE CLIENTS WAITING FOR ANOTHER FED RATE CUT? Read the first article, “Fed Cuts Mortgage Rates Go Up?” to knock them off the fence as mortgage rates will most likely go up after a cut! PRINT COPIES TO PASS OUT!
DO YOU HAVE CLIENTS WAITING FOR PRICING TO COME DOWN? Read the second article, “Ignore All the Headlines” to encourage them to take advantage of low interest rates. PRINT COPIES TO PASS OUT!
Attached is my weekly rate sheet! I’m NEVER too busy for ANY of your referrals! Make it a great week.
FHA Mortgage Limits List - FHA Forward
Message: MORTGAGE LIMITS SUCCESSFULLY COMPLETED
Mortgage maximums as of Wednesday March 05, 2008
(1 records were selected, 1 records displayed.)
MSA Name
MSA Code
Division
County Name
County
Code
State
One-Family
Two-Family
Three-Family
Four-Family
Last Revised
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA)
40140
RIVERSIDE
065
CA
$500,000
$640,100
$773,700
$961,550
03/05/2008
FHA Mortgage Limits List - Fannie/Freddie
Message: MORTGAGE LIMITS SUCCESSFULLY COMPLETED
Mortgage maximums as of Wednesday March 05, 2008
(1 records were selected, 1 records displayed.)
MSA Name
MSA Code
Division
County Name
County
Code
State
One-Family
Two-Family
Three-Family
Four-Family
Last Revised
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA)
40140
RIVERSIDE
065
CA
$500,000
$640,100
$773,700
$961,550
03/05/2008
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