Chris Noceti from WJ Bradley checked in today to give us an update on some of his current rates and programs. Feel free to contact him at 415-655-4986.
Sample loan programs and products -
We still have a low doc, stated income verified asset program. 80% Combined Loan To Value, purchase price to 900k. 70% Combined Loan To Value, purchase price to 1.5 mill.
Conforming 30 Yr Fixed – Loan amounts less than 417k – 6.000%.
Conforming Jumbo, Loan amounts to 729,700 – 6.250% Max Loan To Value 90%.
5/1 ARM Purchase special with 25% down – 5.875%. Loan amounts to 1 mill on Single Family Homes.
Also he reminds us of the new conforming jumbo loan limits which go into effect shortly….
The Economic Stimulus Act of 2008 provided a temporary increase in loan limits for high cost areas, which in the San Francisco Bay Area is currently at $729,750. In the coming weeks, new 2009 loan limits will be established and placed in effect in accordance with the Housing and Economic Recovery Act. This new conforming loan limit will be capped at $625,500, and will now be moved from October 2008 to be effective on January 1, 2009.
Filed under: Mortgage Info
