BACK TO MAIN PAGE

Reali Roundup: Beefier Loans Coming in ‘21

March 6, 2021

1 MINUTE READ

Welcome to the weekend, friends! Did you hear that you can borrow more for your mortgage loan this year? We’ve got the details on that below, as well as the latest SoCal housing needs assessment and how it can help potential homebuyers looking for a place in the area. Let’s break it down.

Gov’t Gives Borrowers a Shot in the Arm

Here’s some good news for all the lovely potential loan applicants out there: buyers in 2021 can borrow more than they could last year. The FHFA determines how much one can borrow by analyzing the average repeat purchase and refinance data for single-family home mortgages across the nation.

What you need to know: this year’s amount will increase by 7.4%, or about $38k. This boost will likely be lauded as manna from heaven by potential CA homebuyers, who face an increasingly tight and competitive housing market. Take advantage of that extra breathing room, California!

One Good Determination Deserves Another

In its Regional Housing Needs Assessment (RHNA), the CA Department of Housing and Community Development determined that Southern California counties will need 1.34 million additional housing units through 2029. This determination, obviously, is critical to easing the region’s housing squeeze. So, the RHNA decision is closely watched, as it controls the fate of those content with the status quo and, well, those who would like to live in California one of these days. While we wait to hear the final details, let’s get your search started now.

 

In the news

spring cleaning

Get Your House in Order: March Edition

You may not have realized it, but winter has turned your home into a badger den. Time to spring clean!
power tools

Buying Power Tools, A Certain Kind of Therapy

Because you’re an Adult and can do what you please, and because all destruction is creation anyway, right?
organized home

Surf vs Turf: The Rise of Sea Vegetables

Healthier for you and easier on the planet, sea veggies are (very slowly) moving in on land veggie turf.
bryan cranston

Bryan Cranston’s Beach House Hits the Market

This eco-friendly seaside retreat isn’t at all what we expected.

More on Mortgage

reali

Reali Loans Named a Top Mortgage Lender

Not to brag, but it’s official: everyone loves simple, low cost home loans.
prepaid interest

All About Prepaid Interest

The straight story on prepaid interest and how it can affect your refi.

Featured Listings

san mateo

San Mateo 3 Bed 2 Bath

Vintage charmer combining the best of urban life and suburban privacy.
san jose 2029

San Jose 3 Bed 3 Bath

Well-maintained gem nestled in the heart of the Rose Garden neighborhood.
sacramento 117

Sacramento 4 Bed 2 Bath

Mid-Century modern stunner with loads of outdoor space
irvine 6 jamestown

Irvine 4 Bed 3 Bath

Expansive knockout of a home with everything a growing family needs.

That’s all for now, fam. Thanks for reading, and have fun this weekend!