Triangle Home Wizard Real Estate Blog

I was helping some nice folks relocating from Utah look for a home today. Cisco is treating them nicely - they are looking for a home right at the limit of conforming loan. As we were inching upward, suddenly we realized we were pretty close to the jumbo limit. Well, I hadn’t checked what that number was, and as 2007 is right around the corner, I decided I better look it up.

Well, according to Fannie Mae - here is the breakdown effective January 1, 2007:

• One-family loans: $417,000
• Two-family loans: $533,850 (duplex, etc)
• Three-family loans: $645,300 (triplex)
• Four-family loans: $801,950

Not enough for you? Move to Alaska, Hawaii, Guam, or the US Virgin Islands and borrow 50% more and still qualify for conforming rates (if you do move, except for Alaska, make sure to invite me over).

If you decide to buy Cary real estate, make sure you first talk to Kevin Martini over at Homebanc. Kevin can get you a pre-qual letter in no time. Just apply online right at his site. Oh, and be sure to mention my name. He pays me thousands of dollars for every referral. Just kidding. (Really! That is not only unethical but illegal). I refer my clients to him because of his service, knowledge, and availability.

Kevin is a great guy. If you want me to prove it, email me for a video clip of him dancing to the “Loveshack” at our 2006 Fashion Victim Ball.