Congress helps San Diego first time home buyers

November 16, 2011 - Breaking News

Finally some good news for first time home buyers in higher cost areas like San Diego

Congress reached a bipartisan agreement that would increase the maximum dollar amount of mortgage loans that can be insured by the Federal Housing Administration (FHA) back to $729,750 after dropping the cap to $625,500 automatically after a temporary increase was issued for all loans insured by the FHA (and all government-sponsored enterprises). The restored higher limit will remain in place through 2013.

“Higher FHA loan limits are critical to supporting current housing prices and our overall economic recovery, and it doesn’t cost the federal government a dime,” said Representative Brad Sherman (D-CA). “This is the single most important provision in the minibus [appropriations] bill to prevent a collapse of housing prices in high-cost areas like Los Angeles and San Diego.

This still has to pass both houses of Congress and get the President's signature but help for the struggling housing market has a lot of support (especially with elections around the corner), so it would be a huge surprise if it isn't passed quickly.

The higher limits coupled with the down payment assistance programs available to first time home buyers in San Diego make is a great time to follow the "smart money"

Click here for more information about first time home buyer financing in San Diego.

Source: Greg Cook's Blog

San Diego 6 Morning Show, San Diego Mortgage and Short Sale Info.

The San Diego 6 morning show talking about San Diego Mortgage options and Property short sales. Joe Feinhandler and John Dupree talk about the San ...

I'm a Loan Officer in San Diego looking to network with new or exprnc'd Realtor/Agents in California...

Jul 24, 2006 by YAY Me! | Posted in Renting & Real Estate

My name is Linda Munoz, I am a Loan Office & I am looking to network with new & experienced Realtors/Agents in California. I work with First Capital Lending in San Diego. I work fast, hard & responsibly! If anyone is interested in networking feel free to email me!
I am experienced with Home Loans, First Time Buyers & Refinancing! I work with over 80 lenders in California as well as in Utah. I am also Bilingual- English/Spanish.

email: lmunoz@myfclending.com

Thanks,
Linda Munoz
I wont be starving, I have clientele....just wanna network with new ppl. =o)

If you can't bring in your own clients, prepare to starve.