Advice, Community & Common Sense

Good News you've been waiting for - Congress OK'd an increase in the Conforming Loan Limit last night!  I wanted you to know right away.  I have already been reviewing all of my clients' files, and will contact everyone who fits this new category once final details are set.

I am monitoring this closely for accurate information regarding implementation time frames by the best lenders, and the final loan limits.  For California, limits as high as $729,750 may be available. The final limit will be determined by County, per HUD's "to be released" reference point list for each county's "median home price".  HUD now has 30 days to publish this list.  The range of possible loan limits nationwide will range from $271,000 to $729,750 based upon the HUD list of county median home prices.

The text of the final draft is available here, if you're interested.  An early news article on this topic was posted last night by CNN.

I will have more relevant news as it is announced!  Count on me for accurate updates, and to keep your best interests in mind.