2009 Agency High Balance
December 8, 2008 – 5:29 pm | by TheBankerCertain Guidelines have been presented for the 2009 Agency Expanded loan Amounts. The SF county limits and much of the surrounding turf will cap out at the following:
One-Unit — $625,500
Two-Unit — $800,775
Three-Unit — $967,950
Four-Unit — $1,202,925
The first major change: Non Owner Occupied Properties and Second Homes; Loan To Values increased from 60% to as high as 80% LTV.
Pricing has not been finalized, but from the looks of it, .5% in fee is the add on. . .not to bad considering.
These days. . .From both Banks and Brokers. . .expect to pay an application fee, and regardless of the rates online and in the paper. . .expect add ons that most are not accustomed too at this point:
example, 30 year fixed, 75%, 740 score= 5.5%
example 2, 30 year fixed, 75%, 700 score= 5.75%
My advice, if the rate works. . .lock it, asap. . .these windows aren’t open that long. The rate environment is similar to the stock market, all over the place.
7 Responses to “2009 Agency High Balance”
By missionite on Dec 9, 2008 | Reply
what is an agency expanded loan amount?
By The banker on Dec 10, 2008 | Reply
they are posted. see post.
By missionite on Dec 11, 2008 | Reply
Ah I wasn’t clear, so let me try again: what is the Agency? Is this the FHA or something? You are using some in-house industry lingo and this plebe doesn’t know what you are referring to.
By The banker on Dec 13, 2008 | Reply
yes Ageny is conforming. FHA is the same.
By dothemath on Dec 19, 2008 | Reply
OK…the previous loan was for $729k I think, right?
Was there a higher balance available then for 2 units, or have the limit for multi unit properties basically increased for 2009?
Thanks
By The banker on Dec 22, 2008 | Reply
the scale increase for units
search conforming loans on google. . .
By jalal on Dec 31, 2008 | Reply
agency