San Clemente Mortgage: Loan Limits Extended For 2010

San Clemente Mortgage: Loan Limits Extended For 2010:

Congress recently acted to keep the existed loan limits through 2010:

Regular Conforming Loan Limits: $417,000

Temporary Conforming Jumbo: $729,750

For high cost cities such as San Clemente, this is especially good news.  According to Dataquick, the average sale amount was $638,875 for October, 2009.  Since Jumbo mortgages vary in interest rate and underwriting requirements, this should help keep some stability in the market for home buyers and those looking to refinance.

MC