Good news for Contra Costa home buyers – FHA loan limits back up to $729,500. If you recall, October 1st the conforming loan limits were dropped to $625,000. Due to support from National Association of Realtors and their constant lobbying of Congress, the limits for FHA loans was reversed today.

What this means for home buyers in Contra Costa County – ability to purchase a home with 3.5% down payment, compared to conventional financing requirements of 10 or 20 percent down. Additional, credit score requirements are lower for FHA loans.

With great financing, low interest rates and low home prices–it is the best time to buy for those individuals that are ready. There are some buyers that are just not ready to buy a house. That is okay, because you have to feel good about your financial future. Just don’t wait too long. As the saying goes – the only time we know when the market has bottomed is when it is on the way up.

If you are ready – call me Linda Urbick 925-415-3046 – together we will find your dream home.

About Linda Urbick Linda

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Filed under: Mortgage Data

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