Time to buy a condo – Economic Stimulus Package day!

The much anticipated economic stimulus package that everyone has been talking about was signed this week by President Bush. This new law will have a great impact on all new condo and loft buyers.  Especially prospective homebuyers upper bracket new condo and home prices such as San Diego Condos and Los Angeles Condos. This is why this reform will reduce the interest rate of loans between $417,000 to $729,750. It will also free up capital markets which in turn will allow lenders to approve more loans to mortgage applicants. Lending requirements for first time homebuyers are going to be a bit more lenient now.  A 10% deposit and good credit will still be required from buyers, but the economic stimulus package is going to allow more buyers the opportunity to purchase more expensive condos at a lower cost. New condo buyers all across the country will have a great incentive to go after that new home. Check out over 1,400 new and pre-construction developments on www.newcondosonline.com.