A deadline is fast approaching for first time home buyers of Laurel real estate.  This deadline affects anyone seeking to buy Maryland real estate.

The loan limits for FHA have been announced. Any loans under the temporary limits must close by the end of December.  January 1, 2009 the new loan limits will go in to effect.  Anything over $417,000 will be considered “FHA JUMBO” for pricing.  Don’t forget that the down payment is also increasing to 3.5%.

Currently on FHA loans, the buyer only needs to contribute a total of 3.0% towards the purchase of their first home.  If you are considering buying any Laurel real estate or any Maryland real estate, the time to act is now.

FHA loans are great products because they are not affected by declining markets and have low interest rates.  Many of my buyers have purchased Laurel real estate with FHA loans

For more information about Maryland real estate, visit my web site.