Loan Limits for California

Hello Friends of Neighborly Realty,

Still no update on the new Jumbo loan limits for the rest of 2008 (remember, these loan limit adjustments are only good until the end of 2008 - so jump on them once they are announced).

We discussed this timeline today at the Placer County Association of Realtors weekly Marketing Meeting.

The different lenders are all hearing different numbers. Most are hearing that these limits will be county dependent, and anywhere from the high $500,000s to the full $729,000 upper limit.

Consensus seems to be that we won't have a final answer from FNMA (Fannie Mae) and / or FMAC (Freddie Mac) for another month - mid March.

So stay tuned, email me if you have questions, and watch this space for updates as soon as we hear more.

- Jim