The Economic Stimulus Package that was signed into law included an immediate increase in both the FHA and conforming loan limits to as high as $729,750 in our high cost LA Beach neighborhoods.
This means that the interest rates on many mortgages will go down because these loans are now eligible to be purchased by Fannie Mae and Freddie Mac or insured by the Federal Housing Administration (FHA). Previously, the FHA was only allowed to insure loans with balances lower than $200,160 - $362,790, depending on the county where the property was located.
What does all of this mean for you?
Continue reading "Mortgage changes can save you money" »
There are different types of policies which provide protection to your home. There are those that cover basic perils, but do not offer, for example, theft or Extended Replacement Cost for the dwelling. Extended Replacement Cost is an additional amount of coverage, usually 125% or 150% of the dwelling amount. It acts as a “buffer” in the event you need more than the dwelling amount specified on the policy at the time of a loss. With this, you will not find yourself underinsured.
Continue reading "Homeowners Insurance: Do you have the right coverage?" »
The Economic Stimulus Package that was signed into law included an immediate increase in both the FHA and conforming loan limits to as high as $729,750 in our high cost LA Beach neighborhoods.
