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, however is that its just that: Temporary thru 12/31/08.
Also the Temp Lending Limit is not nationwide. Click this link: https://entp.hud.gov/idapp/html/hicostlook.cfm to see whether the region you are buying in is included.
As for rates, downpayment requirements, etc. - contact me (or the loan officer you are working with currently) for details.
Take care -
Daniel
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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 [...]
