cooldcre: November 2018

New condos in DC Districtre.com The Isaacs Team LLC

How To Borrow More With Lower Downpay & Interest Rate

It's simple to borrow more for your DC home purchase, decrease your downpayment and keep your interest rate low all at the same time! Simply take advantage of the 2019 Conforming Loan Limit increase taking effect January 1, 2019.

Shop during December and contract on a property, then close after January 1st. 

For the third year in a row, FHFA has hiked conforming loan limits. That reduces the amount of downpayment DC home buyers have to bring to the table, and likely keeps interest rates lower for many who purchase under Jumbo (non-conforming) limits. In the high-priced DC real estate market, and with rising mortgage interest rates, that's great news.

• For one-unit properties located in areas that are not designated as high-cost, the 2019 maximum loan limit is increasing from $453,100 to $484,350.,an increase of 6.9% from 2018 to 2019.

• For one-unit properties located in areas in which 115% of the local median home value exceeds the baseline conforming loan limit, (high-cost areas such as DC), the 2019 maximum loan limit will be $726,525 – or 150% of 484,350.

Details and explainer

Copyright - All rights reserved The Isaacs Team LLC

The Isaacs Team at RLAH

About The Isaacs Team

realestateinthedistrict.com

RLAH | Real Living At Home

11 Dupont Circle #650 Washington DC 20036

Comment balloon 0 commentsThe Isaacs Team llc • November 28 2018 05:27PM
How To Borrow More With Lower Downpay & Interest Rate
share
It's simple to borrow more for your DC home purchase, decrease your downpayment and keep your interest rate low all at the same time! Simply take advantage of the 2019 Conforming Loan Limit increase taking effect January 1, 2019. Shop during… more
DC's New Short Term Rental Restrictions
share
DC Votes To Limit Airbnb and Other Short Term Rentals Airbnb and other home sharing services are popular in DC but now will be restricted by a new DC law. A bill limiting short term rentals passed by unanimous vote during Tuesday’s DC City Council… more
Now Or Later For Washington DC Real Estate?
share
The weather has turned cold and so has many a buyer's enthusiasm for purchasing Washington DC real estate in 2018. But before buyers put their searches on hold, they might want to think about these important points: Prices Washington DC home prices… more
1109 Congress New Condos Coming To NoMA
share
64 New Condos in NoMA A former warehouse and office building are being replaced by a new mixed-use development located half a block from Uline Arena. 1109 Congress will offer one and two bedroom condominium units, a bike storage area and underground… more
The Adora - New Condos Coming To Shaw DC
share
The Adora converts an historic bakery building at 1827 Wiltberger and adds new construction to create a mixed-use project offering nine luxury condos, office space and retail. The old bakery building will offer street-level retail space on the… more