Conforming loan amounts for San Francisco and Marin Counties will be increased from the current $417,000 to $625,500 as of the first of the year. This translates to a purchase price of $781,875 with a 20% down payment. Much more realistic for our part of the real estate world.
Rates have also improved over the past two weeks. Right now conforming loans ($417K ) are at 5 7/8% with 1 point, while Jumbos (729K and above) are at 6 1/4% with one point. Remember, the Jumbo conforming category is being phased out, and will be gone by January 1, 2009.
Posts
No comments:
Post a Comment