San Francisco Real Estate Agent Tim Gullicksen of Zephyr Realty Announces New High Balance Loan Limits Starting in October

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Tim Gullicksen of Zephyr Realty, a San Francisco real estate agent, helps guide clients through the new high balance loan limits that begins this month.

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Tim J. Gullicksen is a San Francisco Real Estate Agent at Zephyr Realty.

There are still jumbo programs that will go up to 80 percent loan to value. There are still many great loan programs available for jumbo products and the interest rates for a jumbo ARM loan are very good.

At the height of the financial crisis in 2008, the high balance loan limit was temporarily raised to $729,750 in order to stimulate home sales. Since that time, the temporary loan limits were extended several times, but expired at the end of September 2011. San Francisco Real Estate Agent Tim Gullicksen of Zephyr Realty, announces effective October 1, the limit set at $729,750 has been reduced to $625,500 in San Francisco.

Buyers that once qualified for the high balance loan program up to $729,750 on the loan amount will now be faced with the possibility of obtaining a straight jumbo loan.

The main difference between a high balance conforming loan and a straight jumbo loan are the qualifying guidelines. With jumbo loans, depending on the loan amount, the lender may require a much higher FICO credit score, 6 to 12 months PITI in reserves, and a debt to income ratio of no higher than 41 percent. The conforming high balance loan can still be done with a minimum FICO score of 620, reserves based upon the desktop underwriting requirements, and a debt to income ratio of 45 percent or sometimes a little higher depending on the circumstances and the loan product.

“There are still jumbo programs that will go up to 80 percent loan to value. There are still many great loan programs available for jumbo products and the interest rates for a jumbo ARM loan are very good,” says Tim Gullicksen of Zephyr Realty.

For more information on Tim Gullicksen of Zephyr Realty, call (415) 655-1588 or visit them online at http://www.timgullicksen.com. Zephyr Realty is located at 2523 California St. San Francisco, CA 94115.

About Tim J. Gullicksen of Zephyr Realty
Tim J. Gullicksen of Zephyr Realty is a San Francisco real estate agent who specializes in a broad spectrum of San Francisco real estate property types from affordable units sold through the Mayor’s Office of Housing to multi-million dollar buildings and single family homes. Tim J. Gullicksen works with experienced and first time home buyers in San Francisco to find the right home.

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Tim Gullicksen
Tim Gullicksen Zephyr Realty
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