Jumbo Mortgage Guidelines to Change This Year – Mission Viejo Real Estate
This will also apply to Mission Viejo Real Estate and all of Orange County since we are included in the list of high-cost areas.
What does this mean to Mission Viejo home buyers? Be aware that if wait until after October 2011 to buy a home with a loan amount over $625,000 you’ll likely be looking at a higher mortgage interest rate. And if you, like the Schreibers, are trying to keep your down payment around 10%, you may be looking at a smaller house that you can swing under today’s guidelines.
What does this mean to Mission Viejo home sellers? You may be looking at a smaller pool of qualified buyers if you list your home for sale in the price range above$700,00 after October 2011. Questions? Call me – 949-678-3373