Certain 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
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.