Ryan's Mortgage Blog:

Hello everyone, it is good to be back blogging after a short hiatus. A lot has happened in the mortgage world since I last posted anything. The Fed cut rates and the conforming loan limits were temporarily raised to spark the Real Estate and Mortgage industries. Changes were also made for FHA (Federal Housing Administration); FHA loans are different from standard loans in the fact they are backed by the government and help first time home buyers. It is a whole topic in itself that I can get into at a later date, but for now you can read about it here: http://www.hud.gov/offices/hsg/fhahistory.cfm.

The loan limits were raised for FHA loans throughout California and our company can offer FHA loans so if you have any questions, feel free to ask.

As far as the loan limits on other loans is concerned, they were raised based on each county. San Luis County went from $417,000 to $687,500 for a conforming loan. Every lender is treating this limit different and they are making their own product names for it like "Agency Conforming" or "Conforming/Jumbo"…it’s not the typical conforming rates….it’s in-between the conforming and jumbo. Either way it is better than what we had. To see a chart of all the loan limits by county you can go here.

Feel free to contact me with any questions or comments at 805-540-0866 or RBaker@PeregrineLending.com