La Jolla Real Estate, Del Mar real estate, Rancho Santa Fe Homes, Carmel Valley Real Estate, University City and
Downtown San Diego real estate, homes and condos for sale in California - Ruth Mills & the Mills Team, REALTOR.






Search the San Diego MLS
(includes all areas in San Diego County)



 February 10, 2008

New loan limit could save buyers hundreds each month
This could be the best news we have heard for loans in the last few years. The U.S. Senate just passed the Economic Incentive Package. This legislation will increase the upper limits of the government-sponsored loan amounts from the current limit of $417,000 up to $729,750. The new limit will make money more available at lower interest rates, for those looking to buy a home in San Diego, or any rea in the US.
It looks like the limits will vary between 125% - 175% of the median price for each metropolitan city. Based on San Diego’s median price of $505,000, the limit would be raised to at least $630,000 but no more than $729,750. We will not know the maximum limit for San Diego until HUD announces the limits in March.

We have already seen buyers returning to the market in anticipation of the new loan limit. The might be one of the best times to find that right home and take advantage of this temporary loan limit increase, low interest rates and low prices.

Back to Real Estate News

Search San Diego Real Estate