Temporary High Balance Loan Limits are Extended for 1 More Year
Congress voted and approved a one-year extension on the temporary FHA, Fannie Mae and Freddie Mac loan limits. The loan limits vary by county, but are established by taking 125% of the county’s median home price and determining that as the upper limit, with $729,750...Crunch Time for the 1st Time Homebuyer Tax Credit
There are rumors that the 1st time homebuyer tax credit will be extended, but at this moment, it is technically expiring on November 30th (must close escrow before 12/1/09). In fact, I think that Congress will be voting this week on whether or not to extend it, but...Be Prepared to Pay Your Property Taxes in Escrow
This is the time of year when the 1st installment of property taxes are due. Their due date is November 1st and their “late” date December 10th. If you’re like me, you want to hang on to your money as long as possible, so a lot of people wait until...Purchasing a Home with a “Bonus Room”
I’m seeing some listings that tout a “bonus room,” suggesting that you get an extra room included in the purchase price. What you need to know is that this is another way of saying that the addition (or conversion) was unpermitted, meaning that the...Loan Calculator
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