Mar 6th	Santa Barbara Real Estate Gets Wish Granted from the FHA
2008	Categories: Buyer's Resources & Advice

After a fair amount of backlash and letter writing, the government this week raised the mortgage limits for loans guaranteed by the Federal Housing Administration in several high cost California counties, including Santa Barbara.  The maximum amount of $729,750 will now be allowed for the Santa Barbara area and only time will tell what effect this will have on the housing market here.  For many residents here in the Santa Barbara area where the average price of a single family home is over $ 1 Million, this will allow homeowners with high-rate sub-prime mortgages to refinance into federally insured loans.  Additionally, it... Read more

Tags: FHA Loans, jumbo loans santa barbara, maximum amount, maximum level, Santa Barbara, santa barbara real estate, subprime mortgages

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