Ed's Blog

Two great pieces of news came out this week.

1) Conforming Jumbo loans are now available on 2 unit properties. Depending on the median home prices in your local market, you could be eligible for up to $934,200 at a great rate (this is up from the $533,850 for conventional conforming 2 unit loans). Awesome!

2) Owning and renting have now become comparable in cost in many hard hit areas of California like Vallejo, Fairfield, and Sacramento. This has brought out lots of first time home buyers and investors who can do the math and see what deals are available when this phenomenon occurs in California. This is further indication that we may be at or near the bottom of the current downturn in some markets. (Even some newspapers are starting to get this.)

And in a bit of personal good news, I am continuing on as a statewide Vice President for the California Association of Mortgage Brokers (CAMB). This year my focus will be on finance as well as some PR (I’ll be training a new PR chair). Stand by for more news on what we’ve been doing to help homeowners who are struggling and to help legislators so we can get some stability back into the lending market.