ø Don’t waste your time reading this blog ø

FHA mortgage limits for California

Filed under: real estate — taewoo @ 11:37 am February 24, 2009

FYI

 

 

MSA NameMSA CodeDivisionCounty NameCounty
Code
StateOne-FamilyTwo-FamilyThree-FamilyFour-FamilyLast RevisedLimit Year
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION4186036084ALAMEDA001CA$625,500$800,775$967,950$1,202,92501/01/2009CY2009
NON-METRO99999 ALPINE003CA$463,450$593,300$717,150$891,25001/01/2009CY2009
NON-METRO99999 AMADOR005CA$332,350$425,450$514,300$639,15001/01/2009CY2009
CHICO, CA (MSA)17020 BUTTE007CA$293,250$375,400$453,750$563,95001/01/2009CY2009
NON-METRO99999 CALAVERAS009CA$373,750$478,450$578,350$718,75001/01/2009CY2009
NON-METRO99999 COLUSA011CA$271,050$347,000$419,425$521,25001/01/2009CY2009
OAKLAND-FREMONT-HAYWARD, CA METROPOLITAN DIVISION4186036084CONTRA COSTA013CA$625,500$800,775$967,950$1,202,92501/01/2009CY2009
CRESCENT CITY, CA (MICRO)18860 DEL NORTE015CA$271,050$347,000$419,425$521,25001/01/2009CY2009
SACRAMENTO–ARDEN-ARCADE–ROSEVILLE, CA (MSA)40900 EL DORADO017CA$474,950$608,000$734,950$913,35001/01/2009CY2009
FRESNO, CA (MSA)23420 FRESNO019CA$281,750$360,700$436,000$541,80001/01/2009CY2009
NON-METRO99999 GLENN021CA$271,050$347,000$419,425$521,25001/01/2009CY2009
EUREKA-ARCATA-FORTUNA, CA (MICRO)21700 HUMBOLDT023CA$327,750$419,550$507,150$630,30001/01/2009CY2009
EL CENTRO, CA (MSA)20940 IMPERIAL025CA$271,050$347,000$419,425$521,25001/01/2009CY2009
BISHOP, CA (MICRO)13860 INYO027CA$369,150$472,550$571,250$709,90001/01/2009CY2009
BAKERSFIELD, CA (MSA)12540 KERN029CA$271,050$347,000$419,425$521,25001/01/2009CY2009
HANFORD-CORCORAN, CA (MSA)25260 KINGS031CA$271,050$347,000$419,425$521,25001/01/2009CY2009
CLEARLAKE, CA (MICRO)17340 LAKE033CA$271,050$347,000$419,425$521,25001/01/2009CY2009
SUSANVILLE, CA (MICRO)45000 LASSEN035CA$271,050$347,000$419,425$521,25001/01/2009CY2009
LOS ANGELES-LONG BEACH-GLENDALE, CA METROPOLITAN D3110031084LOS ANGELES037CA$625,500$800,775$967,950$1,202,92501/01/2009CY2009
MADERA, CA (MSA)31460 MADERA039CA$271,050$347,000$419,425$521,25001/01/2009CY2009
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLI4186041884MARIN041CA$625,500$800,775$967,950$1,202,92501/01/2009CY2009
NON-METRO99999 MARIPOSA043CA$322,000$412,200$498,250$619,25001/01/2009CY2009
UKIAH, CA (MICRO)46380 MENDOCINO045CA$373,750$478,450$578,350$718,75001/01/2009CY2009
MERCED, CA (MSA)32900 MERCED047CA$271,050$347,000$419,425$521,25001/01/2009CY2009
NON-METRO99999 MODOC049CA$271,050$347,000$419,425$521,25001/01/2009CY2009
NON-METRO99999 MONO051CA$529,000$677,200$818,600$1,017,30001/01/2009CY2009
SALINAS, CA (MSA)41500 MONTEREY053CA$483,000$618,300$747,400$928,85001/01/2009CY2009
NAPA, CA (MSA)34900 NAPA055CA$592,250$758,200$916,450$1,138,95001/01/2009CY2009
TRUCKEE-GRASS VALLEY, CA (MICRO)46020 NEVADA057CA$477,250$610,950$738,500$917,80001/01/2009CY2009
SANTA ANA-ANAHEIM-IRVINE, CA METROPOLITAN DIVISION3110042044ORANGE059CA$625,500$800,775$967,950$1,202,92501/01/2009CY2009
SACRAMENTO–ARDEN-ARCADE–ROSEVILLE, CA (MSA)40900 PLACER061CA$474,950$608,000$734,950$913,35001/01/2009CY2009
NON-METRO99999 PLUMAS063CA$336,950$431,350$521,400$648,00001/01/2009CY2009
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA)40140 RIVERSIDE065CA$355,350$454,900$549,850$683,35001/01/2009CY2009
SACRAMENTO–ARDEN-ARCADE–ROSEVILLE, CA (MSA)40900 SACRAMENTO067CA$474,950$608,000$734,950$913,35001/01/2009CY2009
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (MSA)41940 SAN BENITO069CA$625,500$800,775$967,950$1,202,92501/01/2009CY2009
RIVERSIDE-SAN BERNARDINO-ONTARIO, CA (MSA)40140 SAN BERNARDINO071CA$355,350$454,900$549,850$683,35001/01/2009CY2009
SAN DIEGO-CARLSBAD-SAN MARCOS, CA (MSA)41740 SAN DIEGO073CA$546,250$699,300$845,300$1,050,50001/01/2009CY2009
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLI4186041884SAN FRANCISCO075CA$625,500$800,775$967,950$1,202,92501/01/2009CY2009
STOCKTON, CA (MSA)44700 SAN JOAQUIN077CA$304,750$390,100$471,550$586,05001/01/2009CY2009
SAN LUIS OBISPO-PASO ROBLES, CA (MSA)42020 SAN LUIS OBISPO079CA$561,200$718,450$868,400$1,079,25001/01/2009CY2009
SAN FRANCISCO-SAN MATEO-REDWOOD CITY, CA METROPOLI4186041884SAN MATEO081CA$625,500$800,775$967,950$1,202,92501/01/2009CY2009
SANTA BARBARA-SANTA MARIA, CA (MSA)42060 SANTA BARBARA083CA$603,750$772,900$934,250$1,161,05001/01/2009CY2009
SAN JOSE-SUNNYVALE-SANTA CLARA, CA (MSA)41940 SANTA CLARA085CA$625,500$800,775$967,950$1,202,92501/01/2009CY2009
SANTA CRUZ-WATSONVILLE, CA (MSA)42100 SANTA CRUZ087CA$625,500$800,775$967,950$1,202,92501/01/2009CY2009
REDDING, CA (MSA)39820 SHASTA089CA$273,700$350,350$423,500$526,35001/01/2009CY2009
NON-METRO99999 SIERRA091CA$271,050$347,000$419,425$521,25001/01/2009CY2009
NON-METRO99999 SISKIYOU093CA$271,050$347,000$419,425$521,25001/01/2009CY2009
VALLEJO-FAIRFIELD, CA (MSA)46700 SOLANO095CA$400,200$512,300$619,300$769,60001/01/2009CY2009
SANTA ROSA-PETALUMA, CA (MSA)42220 SONOMA097CA$520,950$666,900$806,150$1,001,85001/01/2009CY2009
MODESTO, CA (MSA)33700 STANISLAUS099CA$276,000$353,300$427,100$530,75001/01/2009CY2009

Selection criteria

Sorted by:County
State:CA
County:
County Code:
MSA Name:
MSA Code:
Limit Type:FHA Forward
Last Revised: 

The CY2009 basic standard mortgage limits for FHA insured loans are:
   One-family Two-family Three-family Four-family 
 FHA Forward $271,050.00 $347,000.00 $419,425.00 $521,250.00 
 HECM $417,000.00   
 HOPE for Homeowners $550,440.00   
 Fannie/Freddie $417,000.00 $533,850.00 $645,300.00 $801,950.00 

High cost area limits are subject to a ceiling based on a percent of the Freddie Mac Loan limits
The ceilings for CY2009 are:
   One-family Two-family Three-family Four-family 
 FHA Forward $625,500.00 $800,775.00 $967,950.00 $1,202,925.00 
 HECM $417,000.00   
 Fannie/Freddie $625,500.00 $800,775.00 $967,950.00 $1,202,925.00 

Section 214 of the National Housing Act provides that mortgage limits for Alaska, Guam, Hawaii, and the Virgin Islands may be adjusted up to 150 percent of the new ceilings. This results in new CY2009 ceilings for these areas of:
   One-family Two-family Three-family Four-family 
 FHA Forward $938,250.00 $1,201,162.00 $1,451,925.00 $1,804,387.00 
 Fannie/Freddie $938,250.00 $1,201,162.00 $1,451,925.00 $1,804,387.00 

[Post to Twitter] Tweet This Post 

H1 - Boon or Curse?

Filed under: business — taewoo @ 2:10 pm February 20, 2009

This Businessweek article about the retaliation against US companies hiring (cheaper) H-1 employees to displace more expensive workers infuriates me.

The fraud identified in the Feb. 12 announcement echoes patterns outlined in the October USCIS report. Specifically, Vision Systems Group is accused of filing petition requests with the government showing the H-1B visa workers would be employed in Iowa to take advantage of lower requirements for wage rates. But the workers were allegedly placed in locations on the East and West coasts. Whitaker says that by doing so, the company “dislocated and displaced United States workers that could have done those jobs.”

In other cases uncovered in the investigation, foreign workers have allegedly been placed in jobs and locations not previously certified by the Labor Dept., displacing qualified American workers and violating prevailing wage laws. The companies and foreign workers allegedly submitted false statements and documents to state and federal agencies supporting their visa petitions.

 

Yes, I’m no fan of breaking rules. I’m no fan of screwing people either just because they’re not locals either. But as an entrepreneur, I face similar type of issue, the issue of cost.

H-1 is a sensitive part of the immigration issue because they’re highly trained/educated workers who can fill the labor needs of American companies without the companies having to rely on outsourcing. Often, unions and “patriots” are against increasing the H-1 pool. I wouldn’t be surprised that if there was a referendum on whether or not US should continue the H-1 program, the union idiots and they’re army of drones would vote note. Why? Because we have to “protect the American jobs” and not give them away to foreigners… let alone bring them over here while we got a financial crisis.

But let’s look at the facts..

1. Shortage - There’s a friggin’ SHORTAGE of qualified, highly skilled workers in US, especially in science and technology. I’m not the only one who thinks this… ask people who need technical people, like Bill Gates:

 

The U.S. cannot maintain its economic leadership unless our work force consists of people who have the knowledge and skills needed to drive innovation,” Gates told the Senate committee that oversees labor and education issues.

Gates, whose charitable foundation has given away more than $3 billion since 1999 for educational programs and scholarships, noted that about 30 percent of U.S. ninth-graders fail to graduate on time. “As a nation, we should start with this goal: Every child in the United States graduating from high school,” he said.

“We simply cannot sustain an economy based on innovation unless our citizens are educated in math, science and engineering,” Gates said.

 

Gates said the nation’s economy depends on keeping the country’s borders open to highly skilled workers, especially those with a science or engineering background. Federal law provides 65,000 H1-B visas for scientists, engineers, computer programmers and other professionals every budget year. High-tech and other employers say that’s not enough.

“Even though it may not be realistic, I don’t think there should be any limit,” Gates said, adding that Microsoft hasn’t been able to fill approximately 3,000 technical jobs in the United States because of a shortage of skilled workers.

 

 

If you’re too lazy to read, hear the words come out of his mouth (slightly toned down but has the same impact)

Microsoft is not the only one who needs talented labor pool. Just think of ANY company that uses a computer to do anything. Just go to Silicon Valley or Wall Street and throw a dart at any building. The execs there will tell you that filling positions that require technical + critical thinking are often UNFILLED even in times of recession because there aren’t that many. The good ones are sucked up by big tech companies like Microsoft and Google.

2. Tax - Instead of pouring billions of dollars OUT of US to companies in India and China, why not bring them here so we can TAX them? Very simple. Outsourcing - billions out, zero in. H-1 visas - billions stay, and tax come in.

This is a HUGE benefit because we, as American society, have incurred ZERO costs in training and educating these highly skilled workers. We get ALL the benefits minus all the costs. What happens when a H-1 worker loses his job? Nada. No unemployment insurance, no medicare, nada. IN fact, we kick them out.

3. Not as much a cost issue as people think - American people tend to think that H-1’s are “cheaper” replacements. Really? Hmm.. Information Week doesn’t seem to think so. IN fact, it costs $10,000 just to bring them:

 

Another new amendment being proposed by Sen. Bernie Sanders (I-Vt.), slated for Senate debate today, seeks to impose a new $8,500 surcharge on employers for each H-1B petition filed. The fee would be collected from employers for each new H-1B worker, H-1B visa renewal, or sponsorship of an H-1B non-immigrant applying for a green card, or permanent residency.

Currently, the U.S. charges a fee of $1,500 for each H-1B petition that gets earmarked to fund training and education programs for U.S. workers.

So if it costs a company $10,000 just to legally have a foreign worker come to US, why would the company pay the SAME salary that it was paying to a comparable American worker? OF course, not.  You would pay LESS. That’s the justification for lower H-1 wages.

That article was written in 2007. And just like every other government fees, the price is UP.

4. Opportunity - There are TON of companies started by foreigners or kids of foreign workers. Who? Hmm, let’s see…

 

I mean, the list goes ON and ON and ON. In fact, 25% of all tech companies were started by Indians. Well, the source could be a bit skewed (India Times), but I wouldn’t be surprised if it were around that number. Like I said, just move to Silicon Valley and see for yourself.

 

Now, if they had been barred from coming to US, how would these companies have formed?

 

*sigh*

The days of national protectionism and unionization is over.  It’s time for free market capitalism to kick in once again. If H-1 visa people is what the market demands, then it shall be.

 

[Post to Twitter] Tweet This Post 

Carlyle Group’s Presentation on World Financial Crisis

Filed under: business, real estate — Tags: , , — taewoo @ 12:34 pm February 17, 2009

Sourced from WikiLeaks:

 

[Post to Twitter] Tweet This Post 

Older Posts »