Remember the “Temporary Conforming Limit” is just that…
If you are buying or refinancing your home and the location of the home falls within the temporary conforming limit (and you qualify per the lender’s guidelines), just remember that the temporary limit (in NYC, its for loan amounts between $417,001 - $729,750) that limit expires on 12/31/08. If you are closing somewhere near that date its probably a good idea to discuss this with your loan officer - you don’t want any holiday surprises…
Does your area fall within the “Temporary Conforming Loan Limit”? Click the link below to find out:
https://entp.hud.gov/idapp/html/hicostlook.cfm
Daniel
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Co-op of the week - Candela Classic Seven
Off Fifth/ East 90’s
New York, NY, United States
Price: $2,850,000
8 East 96th Street is a traditional classic 7-room coop located on a high floor with southern exposures and sunny open city views. Featuring large well-proportioned rooms with crown moldings, high ceilings, oak floors, thru-the-wall air conditioning and new windows.
The gracious Entry Foyer leads to a Living [...]
How is the ‘Pick of the Week’ selected?
As a loan officer, I spend a lot of my time working and meeting with real estate brokers, either in their office, at a networking function or at an open house.
I usually visit 5 to 10 open houses a week and I find that there are some apartments that I really do like and could actually live [...]
The Pick of the Week: 176 West 87th Street - Apt: 6J
NEW TO MARKET! Designed for living, this delicate yet intricately designed 1 Bedroom leaves no stone unturned. Lit by both southern & eastern exposures, this delightful apartment comes well appointed with Beech Wood flooring throughout and a Renovated pass-thru, Windowed kitchen with Miele D/W & Granite Counter tops. Complete with a common roof deck Garden [...]
Fannie & Freddie taken over - so now what?
This is clearly the biggest question as it relates to the real estate, and in particular for individuals like me as a loan officer, the mortgage industry.
All I can say is, that the future is impossible to predict - rates can change at any time and are based on a myriad of factors (credit score, [...]
The Pick of the Week
Price: $1,899,999
421 Hudson Street New York, NY 10014
2 bedroom
1,290 sq. ft.
MLS# 566879
CENTURY 21 NY Metro - Fern Hamberger
Cell: (646) 660-0060
Email: fernhamberger@yahoo.com
Link to listing: www.century21.com/agent/listings.jsp?id=10877914
The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time [...]
Manhattan: The New Brooklyn?
(Hi - this is from New York Magazine’s website - pretty interesting take on the market - enjoy! Daniel)
As the market hints at a downturn, Brooklyn brownstones sit unsold. By S.Jhoanna Robledo
Published Aug 10, 2008
(Photo: Gabriele Stabile/The New York Times/Redux)
Conventional wisdom holds that outlying neighborhoods’ prices are last to rise and the first to suffer [...]
What Is The Temporary Lending Limit?
The Temporary Lending Limit represents a key component in the Stimulus Package signed earlier this year. Here’s the basics: the Temp Lending Limit is $729,750 for single family residences, condos and co-ops (check with your loan officer to confirm if their particular mortgage firm adheres to this). One of the major caveats to the Temp Lending Limit, [...]
Jim Cramer on Wells Fargo
Wells Fargo CEO: We Thrive in Hard Times
Posted By:Tom Brennan
Topics:Credit | Mortgages | CEOs and CFOs | Stock Picks | Stock Market
Sectors:Financial Services
Companies:Wells Fargo and Co
Despite the hard times this market – and the banks in particular – have been seeing, Wells Fargo seems to be doing better than most.
CEO and President John Stumpf told [...]
I’m back!
Sorry for not staying in touch more often the last few weeks…funny thing, took a long weekend in Boston last week. While driving my wife asked me about one of (at the time) my best friends in college - specifically, why I hadn’t sought him out again.
We kind of drifted apart but she was right [...]
