Tightening Limits on Jumbo Loans

According to The Institute for Luxury Home Marketing (ILHM) "on October 1st Fannie, Freddie, and the Feds will be lowering the maximum amount the government will guarantee on Jumbo loans. The new limits will vary by region. Under the new rules, the maximum eligible loan will fall from $729,750 to $625,500."

If you are a home buyer and "on the fence," now's a good time to reconsider your options and long-term plan.    

ILHM as do I believe the "effects on the housing market in general, the jury's still out.  Some folks are predicting that banks will step in and fill the gap by lowering lending requirements and rates in the hopes of capturing a bigger slice of the jumbo pie." Stay tuned for updates. 

Home buying activity remains brisk in the Houston Metropolitan area. Call today if you are considering buying or selling.