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It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
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LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
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Study Finds Lower Loan Limits Will Hurt Housing Recovery
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
READY TO SPEAK TO A PROFESSIONAL?
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Study Finds Lower Loan Limits Will Hurt Housing Recovery
HOW LOANRATEUPDATE WORKS
READ OUR DISCLOSURE
FILL OUT THE FORM
It all starts here. Select the loan product you want to apply for and complete the subsequent questionnaire.
WE VERIFY & TRANSMIT TO LENDERS
Once we receive your completed questionnaire we verify a couple vital pieces of information and direct your information to our network of lenders, all within minutes.
REVIEW YOUR OFFERS
With offers in hand you can now compare rates and costs and get the best possible deal. Comparison shopping made easy. You fill out one form and lenders compete for your business.
CHOOSE YOUR LENDER
Congratulations! With the great learning tools we provide for you at LoanRateUpdate and the offers you have received, you've found the right product and the best rate.
LOANRATEUPDATE IS NOT A LENDER OR A BROKER BUT WE HAVE LOTS OF FRIENDS WHO ARE
Pick the service you desire below
Study Finds Lower Loan Limits Will Hurt Housing Recovery

June 28, 2011 (Chris Moore)

A new study by the National Association of Home Builders (NAHB) finds that the drop in some mortgage loan limits scheduled to take effect on October 1, 2011, will reduce housing demand and place downward pressure on housing prices.

The study says the new lower loan limits will result in more homes being above the “conforming” loan limit thus making them ineligible to purchased by government-sponsored enterprises (GSE) Freddie Mac and Fannie Mae or to be purchased by FHA-insured financing.

Such a scenario would likely result in more buyers purchasing homes that would likely require higher down payments, financing with higher mortgage rates, more stringent credit requirements and other less favorable loan terms.

“The lower limits will place a constraint on home buying in high-cost housing markets, such as those along the coasts and in California. It is the last thing we need in a housing market that is still struggling to get back on its feet,” said NAHB Chairman Bob Nielsen.

Under the Housing and Economic Recovery Act of 2008, the base limit for a loan through either two of the GSEs was $417,000, but could rise as high as $729,750, based upon a formula that allowed loan limits to rise as high as 125 percent of local median prices.

The formula change taking effect in October would lower the formula to 115 percent and cap the loan amount at $625,000. FHA-insured loans would see a similar drop although their lowest limit would be $271,050.

The amount of homes that would be affected are staggering. According to the report an estimated 3.63 million owner-occupied homes are currently priced above the conforming loan limit. If the rule is allowed to take effect, an additional 1.38 million owner-occupied homes would be placed above the limit. That would leave a total of just over 5 million homes that would no longer be eligible for financing through either GSE.

FHA-insured loans fare worse. There are currently 8.32 million owner-occupied homes priced above FHA loan limits, if the new rule is allowed to take effect, an additional 3.87 million homes would no longer be eligible for FHA-insured financing, leaving 12.2 million homes ineligible for FHA insured financing.

The study warns that downward pressure would extend beyond the homes directly affected by the new lower limits because first-time homebuyers and trade-up home sales are interrelated.

Tags: NAHB, GSE, Freddie Mac, Fannie Mae, housing demand, housing prices, loan limits, conforming loans, higher down payments, higher mortgage rates, stringent credit requirements

Source:
NAHB

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

June 28, 2011 (Chris Moore)

A new study by the National Association of Home Builders (NAHB) finds that the drop in some mortgage loan limits scheduled to take effect on October 1, 2011, will reduce housing demand and place downward pressure on housing prices.

The study says the new lower loan limits will result in more homes being above the “conforming” loan limit thus making them ineligible to purchased by government-sponsored enterprises (GSE) Freddie Mac and Fannie Mae or to be purchased by FHA-insured financing.

Such a scenario would likely result in more buyers purchasing homes that would likely require higher down payments, financing with higher mortgage rates, more stringent credit requirements and other less favorable loan terms.

“The lower limits will place a constraint on home buying in high-cost housing markets, such as those along the coasts and in California. It is the last thing we need in a housing market that is still struggling to get back on its feet,” said NAHB Chairman Bob Nielsen.

Under the Housing and Economic Recovery Act of 2008, the base limit for a loan through either two of the GSEs was $417,000, but could rise as high as $729,750, based upon a formula that allowed loan limits to rise as high as 125 percent of local median prices.

The formula change taking effect in October would lower the formula to 115 percent and cap the loan amount at $625,000. FHA-insured loans would see a similar drop although their lowest limit would be $271,050.

The amount of homes that would be affected are staggering. According to the report an estimated 3.63 million owner-occupied homes are currently priced above the conforming loan limit. If the rule is allowed to take effect, an additional 1.38 million owner-occupied homes would be placed above the limit. That would leave a total of just over 5 million homes that would no longer be eligible for financing through either GSE.

FHA-insured loans fare worse. There are currently 8.32 million owner-occupied homes priced above FHA loan limits, if the new rule is allowed to take effect, an additional 3.87 million homes would no longer be eligible for FHA-insured financing, leaving 12.2 million homes ineligible for FHA insured financing.

The study warns that downward pressure would extend beyond the homes directly affected by the new lower limits because first-time homebuyers and trade-up home sales are interrelated.

Tags: NAHB, GSE, Freddie Mac, Fannie Mae, housing demand, housing prices, loan limits, conforming loans, higher down payments, higher mortgage rates, stringent credit requirements

Source:
NAHB

What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
Calculate how much you can afford
BUYING OR SELLING A HOME
IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makles it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS

June 28, 2011 (Chris Moore)

A new study by the National Association of Home Builders (NAHB) finds that the drop in some mortgage loan limits scheduled to take effect on October 1, 2011, will reduce housing demand and place downward pressure on housing prices.

The study says the new lower loan limits will result in more homes being above the “conforming” loan limit thus making them ineligible to purchased by government-sponsored enterprises (GSE) Freddie Mac and Fannie Mae or to be purchased by FHA-insured financing.

Such a scenario would likely result in more buyers purchasing homes that would likely require higher down payments, financing with higher mortgage rates, more stringent credit requirements and other less favorable loan terms.

“The lower limits will place a constraint on home buying in high-cost housing markets, such as those along the coasts and in California. It is the last thing we need in a housing market that is still struggling to get back on its feet,” said NAHB Chairman Bob Nielsen.

Under the Housing and Economic Recovery Act of 2008, the base limit for a loan through either two of the GSEs was $417,000, but could rise as high as $729,750, based upon a formula that allowed loan limits to rise as high as 125 percent of local median prices.

The formula change taking effect in October would lower the formula to 115 percent and cap the loan amount at $625,000. FHA-insured loans would see a similar drop although their lowest limit would be $271,050.

The amount of homes that would be affected are staggering. According to the report an estimated 3.63 million owner-occupied homes are currently priced above the conforming loan limit. If the rule is allowed to take effect, an additional 1.38 million owner-occupied homes would be placed above the limit. That would leave a total of just over 5 million homes that would no longer be eligible for financing through either GSE.

FHA-insured loans fare worse. There are currently 8.32 million owner-occupied homes priced above FHA loan limits, if the new rule is allowed to take effect, an additional 3.87 million homes would no longer be eligible for FHA-insured financing, leaving 12.2 million homes ineligible for FHA insured financing.

The study warns that downward pressure would extend beyond the homes directly affected by the new lower limits because first-time homebuyers and trade-up home sales are interrelated.

Tags: NAHB, GSE, Freddie Mac, Fannie Mae, housing demand, housing prices, loan limits, conforming loans, higher down payments, higher mortgage rates, stringent credit requirements

Source:
NAHB

THINKING OF BUYING
A NEW CAR?


WE GIVE YOU THE INSIDE TIPS THAT
COULD SAVE YOU THOUSANDS.
What's the four square system? How much is your trade-in really worth and why those payments really do seem a little higher than you thought.
There's both advantages and disadvantages to leasing and buying depending on what you're planning to use your car for and how long you plan on keeping it.
Sure that low interest dealer financing sounds really attractive but there's a price to be paid for that. We spill the beans as to why getting your own financing may save you money.
Buying a car at a dealership hasn't changed much through the years but doing your research on the internet can you save you a lot of time and most importantly, a lot of money.
Calculate how much you can afford
BUYING OR SELLING A HOME IS A BIG DECISION
WE MAKE IT EASIER
Buying a home is a big decision. If you are not prepared, the decisions you make, the questions you don’t ask, and the details you miss could cost you thousands – in price, fees, financing, property issues, and home repairs.
Home loans can be confusing. There's a lot of options and we provide the information that makes it simple. Don't sign on that dotted line until you know. It could cost you.
FIND THE CREDIT CARD THAT'S RIGHT FOR YOU
THERE'S A CREDIT CARD FOR VIRTUALLY ANY SITUATION. FIND YOURS.
YOU'VE WORKED HARD TO BUILD YOUR DREAM

LEARN ABOUT THE LOAN OPTIONS AVAILABLE TO EXPAND YOUR BUSINESS