My name is Erik Martin and I am a reporter for a nationally syndicated real estate section provided by CTW Features and published weekly in newspapers across the country (see current examples at gmnews.com/?s=%22by+erik+j.+martin%22). I’m looking to interview lenders, brokers, realtors/agents, and other housing professionals for the following article:
NEED A BIGGER LOAN TO AFFORD THAT HOME FOR SALE? UNCLE SAM MAKES IT EASIER IN 2017. The Federal Housing Finance Agency recently announced that loan limits for 2017 are going up--the conforming loan limit is rising from $417,000 to $424,100. Loans that exceed $424,100 are considered to be conforming high balance loans, which means higher pricing and higher fees, as they're greater than the conforming loan limit. This change by the Federal Housing Finance Agency also means that the maximum county conforming loan limits will be increased, making it easier to get a bigger mortgage or to buy a house with less than 20% down, for example. This article will explain how jumbo loans work, delve into how and why conforming loan limits are changing, suggest how borrowers can take advantage, and offer tips on do's and don'ts with jumbo loans. Below is a list of questions I’m seeking answers to. I can either conduct a phone or email interview (with the latter, please email me back full-sentence written responses that I can use as quotes). My deadline is noon central time, Tuesday, January 24 , 2017.
QUESTIONS:
1. What are jumbo loans/loans that exceed the conforming loan limit, how do they work?
2. Who typically needs them (do you have a statistic indicating what percentage of borrowers choose jumbo loans)?
3. Why is the conforming loan limit being raised to $424,100? What is behind this change, and why is this a good thing? Who will it benefit?
4. How will this make it easier to get a bigger mortgage or buy a house with less than 20% down in 2017 and beyond?
5. What tips do you recommend to borrowers who may want to pursue a jumbo loan past the conforming loan limit? What should they consider carefully and what steps should they take? Also, what should they avoid?
6. Any other thoughts, tips or suggestions on this topic?
7. What is your full name, title, company, city/state location, and email address?
