Sonoma County FHA New Mortage Loan Limits! Not as much as we wanted! But it’s a Start!
March 6th, 2008 . by Mike KellyFHA Mortgage Limits FHA and HUD
The new Loan limits got issued today and we are in the “second tier” of the high priced spread! The maximum level is now $729,750. If you live in Sonoma County it is $662,500. So let me get this right. You live in Petaluma and just 20 minutes away in marvelous Marin the new loan limit is about $70,000 more! But hey, it’s a start! Here in Sonoma County at the old conforming loan limit of $417,000 we had 924 residential properties which qualified. Today with the new limit of $662,500 we double that number and have 75% coverage for all “Active” residential properties now on the market. NOT BAD!! However, the big shoe to drop next will be at WHAT RATE?? Some think a blended of the old “conforming rate” and the “JUMBO” products. We’ll know most likely tomorrow and we will be discussing this on the “Real Estate Hour”, Sunday, 9 to 10AM PST, 1350AM radio!! KSRO.
Mortgage maximums as of Wednesday March 05, 2008
SANTA ROSA-PETALUMA, CA (MSA) 42220 SONOMA COUNTY, CA
Single Family home: $662,500
Two Units: $848,100
Three Units: $1,025,200
Four Units: $1,274,050
These limits were last revised on : 03/05/2008
