My New Blog

While the temporary increases in Fannie Mae and Freddie Mac loan limits for 2008 are expiring, new permanant limits for 2009 have now been set. These permanant increases should create a winfall of new loan programs which will fall under these new limits. This should make financing of single family 1-4 unit properties much easier as jumbo financing which is more expensive will not be required as often. The new limits in Southern California are as follows...

Los Angeles and Orange County, 1 unit limit $625,000 /2 unit $800,000/

3 unit $967,000/ 4 unit $1,202,925

Ventura County 1 / $598,000 /2 $765,550 /3 $925,000 /4 $1,138,950

Santa Barbara Co 1 /$603,000/ 2 $772,900 /3 $934,250 /4 $1,161,050

San Diego Co 1 / $546,250 / 2 $669,300 / 3 $845,300 / 4 $1,050,500

All other Southern California counties remain unchanged from 2007 limits