In order to help stimulate sluggishness in the high cost real estate markets, Fannie Mae and Freddie Mac had increased their loan limits for the second ½ of 2007 and for 2008 to $729,750. Based on declining values, they are adjusting these limits downward accordingly.

The new * Agency High Balance max conforming loan limit for the continental U.S. will be $625,500 for 2009

Here in Southern Oregon, this loan limit will cover most of our properties, as our medians are well below this limit. But, our neighbors to the South in the high-cost markets of California may still find these loan limits restrictive. 

With the relocation of these California folks to the Rogue Valley, their buyers may find their financing choices will be a bit more expensive and can be pretty limited with the mass exodus of investors from the Jumbo Loan market.

Options are still available to you. For more information on financing alternatives for your Oregon/California purchase, like a great portfolio fixed program for Oregon buyers/ homeowners that is usually priced only 1/2 % higher than conforming loans to $417,000 AND has options available that may take you up to 90% (with self-insured mortgage insurance!), contact us at (541)608-6003 (Oregon) or (661)478-7564 (California).

See you at the closing table!

Karen Cooper - OR/CA Mortgage Consultant - www.Quality4Loans.com

*Currently 422,500 for Jackson County Oregon 9/16/2009