and Support the Proposed 2008 $150 Billion Tax Stimulus Package

Share Article and support the proposed 2008 $150 Billion Tax Stimulas Plan increasing loan limits to stimulate the San Diego real estate market.

The new loan limits will assist the San Diego home market by providing additional buyers for our large inventory

Brian Yui, CEO of, a national discount real estate company, based in San Diego declares his company's support for the proposed $150 billion economic stimulus package. As part of the package, Congress is proposing an increase in the conforming loan limits to $625,000, and in some areas to $729,750, up from the current $417,000. Yui believes this would benefit the San Diego real estate and California market, as the median home price in California is $597,640 according to the California Association of Realtors.

Since interest rates on conforming loans are lower than those on non-conforming or jumbo loans, Yui feels this plan would increase the pool of buyers for the San Diego real estate market. "The new loan limits will assist the San Diego home market by providing additional buyers for our large inventory," said Brian Yui, CEO of "We feel these limits should be permanent in markets, such as San Diego, where home prices are significantly higher than the national average." Mortgage rates on a 30 year fixed rate loan are currently about 1% higher for jumbo loan amounts, compared to conforming loan amounts, according to the rates posted on San Diego lender

Conforming loans are approved by most lenders using an automated underwriting systems developed by Fannie Mae and Freddie Mac. "Not only are conforming loan rates substantially lower than jumbo rates, but it is easier for borrowers to get approved for a conforming loan," said Vince Kasperick, CEO of The same jumbo loans written under the conforming loans would be approved through the conforming loan automated underwriting. Kasperick believes that many homeowners currently stuck in jumbo adjustable rate loans would be able to refinance into fixed rate loans, "Increasing the conforming loan limits would stimulate a mini refinance boom in the San Diego market," according to Kasperick. For an example, a $500,000 30-year fixed rate mortgage priced at the current jumbo rates of 6.5% has a monthly payment of $3,160. But if that same $500,000 loan could be priced at the current conforming rate of 5.5%, the payment would only be $2,838, resulting in a monthly savings of over $300 per month.    

About is a full service value real estate company. maintains a seasoned staff of agents who provide all the services that traditional real estate offices offer at discount pricing, offering reduced commissions on sales and rebates 33% of its commissions on purchases. is a member of the National Association of Realtors®.

About is a San Diego-based direct lender, licensed in 43 states, as well as by Fannie Mae, Freddie Mac and HUD. Since 1998, has funded over $3 Billion in mortgages to over 15,000 customers throughout the country.'s website allows customers to view rates and obtain a Good Faith Estimate online, 24/7. Customers may apply online, obtain an online approval and lock their rate online, the entire process taking about 20 minutes.


Share article on social media or email:

View article via:

Pdf Print

Contact Author

Brian Yui

Vince Kasperick
Aim Loan
Email >
Visit website