San Luis home owners who missed the refinancing opportunity when rates were in the high 3%'s should consider refinancing in the next couple of months to lock in a lower rate. Interest rates are still at an all time low and the opportunity is presenting itself again!
Kevin Hauber, Senior Loan Consultant with iMortgage here in San Luis Obispo says;
"Current loan limits in San Luis Obispo County allow for high balance loans of up to $687,500 for conventional and FHA loans on one unit properties. Those limits will go down effective October 1st to $561,200. It is important for any buyers or those wishing to refinance with a loan amount between this new limit of $561,200 and the current limit of $687,500 to conclude their transactions before the change becomes effective. After that time, higher balances will be considered Jumbo loans and subject to different criteria and pricing."
For more info on Refinancing your San Luis home call Kevin Hauber (805) 597-8844
For more information or questions on Real Estate give Traci a call 805-235-6396 or email me.
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