GSE and FHA Loan Limit Changes - New guidelines and rates available
through Elite Home Loans
The Economic Stimulus Act of 2008 was signed into law on February 13, 2008. This broad package provides a temporary increase to the existing Government Sponsored Enterprises loan limits. Fannie Mae®, Freddie Mac® and FHA are allowed to purchase or insure mortgages larger than $417,000, the current limit for conforming loans. This new law temporarily increases the conforming loan amount to as high as $729,750 in specific geographical areas through December 31, 2008.
DUE TO U.S. TREASURY SECURITIES MARKETS, RATES AND TERMS ARE SUBJECT TO CHANGE WITHOUT NOTICE.
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Program
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Rate
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Point
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APR
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30/25/20 yr Fixed
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5.625%
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0.500%
|
5.692%
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15 yr Fixed Conforming
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5.250%
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0.500%
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5.325%
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3/1 Libor ARM
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4.500%
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0.500%
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5.338%
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5/1 Libor ARM
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5.625%
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0.500%
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4.573%
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|
7/1 ARM
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5.875%
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0.500%
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4.911%
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30 yr Fixed Jumbo
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6.500%
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0.500%
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6.560%
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|
15 yr Fixed Jumbo
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6.000%
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0.250%
|
6.037%
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5/1 Jumbo ARM
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5.875%
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0.500%
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5.702%
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|
7/1 Jumbo ARM
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5.875%
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0.250%
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6.240%
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10/1 Jumbo ARM
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6.125%
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0.500%
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5.962%
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Elite Home Loans will provide you a low cost purchase home, refinance, Line of credit, construction, commercial loan and business loan. Enjoy a fast, hassle-free, no-nonsense service from a company that cares, with years of experience, and the determination to get what you want! We can show you in detail how we can save you and your family a fortune on your mortgage loan with our low interest rates. After the initial application is taken, we automate everything through loan submission followed by closing.
Rates, points, and products are subject to change at any time without notice.
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