Important information about Temporary Loan Limits!
Temporary Loan limits are set to expire September 30th, and roll to the permanent limits as follows:
Nevada County currently $562,500, will be $477,250 after October 1.
Placer/El Dorado Counties currently $580,000, will be $474,950 after October 1.
SF/Marin/greater Bay Area currently $729,750, will be $625,500 after October 1.
It will take an act of Congress (literally) to extend the loan limits. They have done it for the past 2 years, but always wait until the last second to do so. Opinions on whether or not it will be extended are running 60/40 against it at the moment.
All loans under the existing limits MUST be approved prior to September 30 to close at the higher amounts.
If you are interested in obtaining financing for a home purchase click on the link for a highly recommended Lake Tahoe Mortgage Broker.