My New Blog

I am posting this information received from a mortgage expert.

Please check in to this blog periodically for updates and important information.

Patti

2009 FHA and Agency Loan Limits Announced

FHA loan limits for Cook, DeKalb, DuPage, Grundy, Kane, Kendall , Lake , McHenry, and Will counties will be:

One Unit Properties $365,700
Two Unit Properties $468,150
Three Unit Properties $565,900
Four Unit Properties $703,250

Call me with any FHA or other mortgage questions you have-I’m able and happy to help.

Chérie McKeage

Capital Funding Mortgage Company, LLC
g Mortgage Planner

Hi Friends!

With all the changes to the financial world lately, I thought I would publish a simple explanation of what can be expected from lenders in the coming year, as presented by a lending expert.

So here is what we can reasonably expect for 1 to 4 unit residential properties.

Loan Limits Stay the Same for 2009.

The Federal Housing Finance Agency (FHFA) announced today that the maximum size of loans that Fannie Mae and Freddie Mac can purchase in 2009 will remain at $417,000 for most areas in the US. Conforming loan limits are based on changes in the average home prices for the previous year, but cannot decline from year to year.

So for 1-4 units in our area, the loan limits for conforming loans remain at:

• One-family loans: $417,000
• Two-family loans: $533,850
• Three-family loans: $645,300
• Four-family loans:$801,950

As in previous years, the 2009 limits are higher in Alaska , Hawaii , Guam , the US Virgin Islands, and other high price areas such as parts of California . In those areas, loan limits vary from $625,500 to $721,050 for one-unit properties.

Chérie McKeage

Capital Funding Mortgage Company, LLC

Your comments and questions are always welcome!

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IF YOU HAVE ANY QUESTIONS GIVE ME A CALL OR SEND AN E-MAIL.

RAVENSWOOD LINCOLN SQUARE OPEN HOUSE TOUR

TONIGHT TUESDAY 10/7/08 4PM TIL 7PM

Address:	2414 W Carmen St				Unit:		MLS #:	06999145
City:	Chicago				Area:	8004	Status:	PCHG
Property Type:	DE	# Rooms: 12	# Bedrooms: 5		# Baths:	3.1	Price:	$799,000
Scheduled for: 10/07/2008 from 04:00 AM to 07:00 PM					Lunch: No		Refreshments: Yes
Office:	New Chicago Real Estate			Agent: DEBORAH HESS
Directions:	WESTERN NORTH OF LAWRENCE TO CARMEN LEFT TO 2414
Comments:	Ravenswood | Lincoln Sq Multi BO Tour - Great Homes, Food, Drinks + Gifts!							Tour/Open: Tour Only

Address:	1966 W Wilson				Unit:		MLS #:	06979662
City:	Chicago				Area:	8004	Status:	ACTV
Property Type:	DE	# Rooms: 11	# Bedrooms: 4		# Baths:	3.1	Price:	$849,900
Scheduled for: 10/07/2008 from 04:00 PM to 07:00 PM					Lunch: No		Refreshments: No
Office:	Koenig & Strey GMAC Real Estate			Agent: VICKI HARRISON
Directions:	DAMEN (NORTH) TO WILSON (EAST) PROPERTY ON NORTH SIDE
Comments:	LOCATION! AMAZING COMPLETE REHAB!							Tour/Open: Tour Only

Address:	2125 W Wilson Ave				Unit:		MLS #:	06932372
City:	Chicago				Area:	8004	Status:	ACTV
Property Type:	DE	# Rooms: 11	# Bedrooms: 4		# Baths:	2.2	Price:	$899,900
Scheduled for: 10/07/2008 from 04:00 PM to 07:00 PM					Lunch: No		Refreshments: Yes
Office:	Mak Realty Group, Inc.			Agent: KAREY WALKER
Directions:	DAMEN (NORTH) TO WILSON (WEST) TO PROPERTY
Comments:	Broker's Open Tour Tuesday, October 7, 4-7pm.							Tour/Open: Tour Only

Address:	5123 N Winchester St				Unit:		MLS #:	07021176
City:	Chicago				Area:	8004	Status:	ACTV
Property Type:	DE	# Rooms: 13	# Bedrooms: 5		# Baths:	3.1	Price:	$999,000
Scheduled for: 10/07/2008 from 04:00 PM to 07:00 PM					Lunch: No		Refreshments: Yes
Office:	@properties			Agent: JEANINE WHEELER
Directions:	DAMEN TO WINONA NORTH (5123) ON WINCHESTER IN RAVENSWOOD
Comments:	Call Jeanine 312.961.7783							Tour/Open: Open House Only

Address:	5139 N Oakley Ave				Unit:		MLS #:	06982004
City:	Chicago				Area:	8004	Status:	PCHG
Property Type:	DE	# Rooms: 12	# Bedrooms: 5		# Baths:	3.1	Price:	$1,046,500
Scheduled for: 10/07/2008 from 04:00 PM to 07:00 PM					Lunch: No		Refreshments: No
Office:	Prudential Preferred Prop.			Agent: LORA PERLMAN
Directions:	FOSTER TO OAKLEY (2300W) SOUTH ON OAKLEY TO 5129
Comments:	Lincoln Sq. 5000 SF on 1 1/2 lots 3 Y o all top finishes 3 car gar							Tour/Open: Open House Only