Just a Friendly Reminder of All the Changes Coming Up in 20 Days

September 10, 2008 by Leave a Comment

The passage of HR 3221 has made many changes effective October 1, 2008.   Here are just a few that will officially go into effect in 20 days:

FHA Mortgage Insurance is Increasing

Down Payment Assistance Programs will be gone

You have until the end of this year to take advantage of the higher conforming-jumbo and FHA-jumbo loan limits.   Effective January 1, 2009, they will be reduced (from the passage of HR 3221).

And if you have not owned a home over the past 36 months, you have until the first half of 2009 to take advantage of the first time home buyers tax credit (interest free loan).

Is HR 3221 effecting you for better or worse?  I’d love to hear how.

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Filed Under: Legislation
About Rhonda Porter

Rhonda Porter (NMLS 121324) is a veteran Washington Mortgage Advisor with over 25 years of experience navigating the Pacific Northwest real estate market. Specializing in residential home financing and mortgage strategy, Rhonda founded The Mortgage Porter to provide homeowners with transparent, data-driven clarity. Based in Seattle, she is a trusted resource for first-time buyers, self-employed borrowers and homeowners across Washington State, dedicated to turning complex financing into a confident path to homeownership.

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