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Advice, Community & Common Sense

MHA 2009 Update & $729,750 Loans Again!

April 5th, 2009 1:21 PM

2 Topics, 1 posting - MHA 2009 Update &

$729,750 Loan Limits are finally coming!

For MHA 2009: Just a brief note to let you know we're analyzing the details of the latest "RefiPlus" plans by Fannie Mae, rolling out this week, and allowing for 80.01% to 105% Loan-to-Values ("LTV"). We'll be in touch with any of our current clients fitting the guidelines. We've received many inquiries on this topic, so we're watching very closely and are focused on providing accurate information, not just the headlines.

Meanwhile, the first step is same for everyone. Go to these updated websites to find out if Fannie or Freddie currently owns the loan to be eligible for the up to 105% LTV financing. These are newer, updated sites by Fannie/Freddie since the original announcement in February.

http://loanlookup.fanniemae.com/loanlookup/

https://ww3.freddiemac.com/corporate/

After checking these sites, kindly update us by emailing us whether your loan is serviced by Fannie or Freddie, or neither. We'll have you set up to take the next steps as soon as they're established.

We'll be in touch as we know more!

For Temporary Conforming loans: We've been hearing since February that "they" allowed the Loan Limits to go back to 2008's limit of $729,750. Well... it's almost actually here, and working! Starting May 1, 2009, Fannie Mae's systems will be ready to go! If you fit between $625,500 and $729,750 (and slightly higher if you can pay down your balance a little!) go to our Update form and fill out your latest information so we have you in the queue, ready to hit the ground running!

If you're holding a loan higher than $729,750 and don't want to buy it down at this time, Emery is getting a fresh source of True Jumbo money in a matter of days -- and is one of the exclusive few brokers nationwide to have it! If you fall into the range of $730,000 to $4,000,000, please go to our Update form and fill out your latest information so we don't miss a step.

Until next time, wishing you the best!

Posted by Rick Geary on April 5th, 2009 1:21 PMPost a Comment (0)

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