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Sunday Short – Jumbo Conforming Loan Limits

From Mortgage Man, Dan Green:

If your current home–or the home you are buying–is in a designated “high-cost” area, keep an eye on your calendar. Effective October 1, 2011, the temporary conforming loan limits for your area will expire.

This may be old news for some – the Wall Street Journal reported on this back in February – but just in case you missed the memo, this will affect our San Diego market.

The conforming loan limit for a single-unit purchase has been $417,000 for years. For loan amounts above that, or “jumbo” loans, we have enjoyed two tiers of loans and accompanying rates – “jumbo conforming” and pure jumbos. The “jumbo conforming” loan limit currently stands at up to $729,750 in “high cost” areas. San Diego, being one of those guys, has a current jumbo conforming limit of $697,500.

Come October, the new “jumbo conforming” floor is set to adjust to $625,000; our San Diego limit will presumably be lower. What that means, of course, is that your mid-sixes loan will cost you more. Or, what it might really mean is that your home priced in the mid-eights today will be worth less.

Kris Berg Gomez

Kris Gomez is Owner and Designated Broker of San Diego Castles Realty. She has been serving San Diego buyers and sellers since 1997.

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  • Realestateguru

    I think jumbo conforming loan limits are the least of our problems right now.I have a had a squatter next to me for over three years not paying a dime to anyone living without running water.

  • It does effect the future.  Even little things like this can harm every step we make toward stability and normalcy.  Thanks for the heads up Kris.

  • Dan Statlander

    Thats not good for the consumers and will hurt them.
    Dan Statlander estate experts in Boca Raton Florida)

  • That’s a good idea for all home buyers. They are fully secured. Good blog!

  • Bob

    Cool.  So house prices between $600-800K should come down further.  I’ll wait on the sidelines to get a deal.

Office Location

  • San Diego Castles Realty
  • 12265 Scripps Poway Parkway, Suite 115
  • Poway, CA 92064
  • P: 858.530.2374
  • F: 858.876.1701
  • E: info (at)
  • CA BRE# 01853496

Broker Information

  • Kris Berg, Broker
  • CA BRE #01241572