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Ryan’s Mortgage Blog:

I wanted to remind you guys the Fannie Mae conforming loan limit in San Luis Obispo County is $687,500, up from $417,000. I bring this up because I am working on a loan in Nevada where the limit only increased in one county. Now I realize the median home prices are drastically different in the two states, but I would take advantage of the increase here if you can. They are trying to make the change permanent, but we’ll see.

As an example, a current 30 year fixed CONFORMING loan offers a rate of around 6.375%, where as a JUMBO loan (above $687,500) rate is around 7.5%. Now let’s compare a $550,000 loan with these rates. Your payment for the conforming rate is around $ 3,431 m/o and your payment for the jumbo rate is around $3,845 m/o. A savings of $414 a month and $4,968 a year. So in terms of refinancing, if your current loan amount is between $417,000 – $687,500, you may want to crunch some numbers.

I have been really fascinated of late reading all of the articles as to what is wrong with the economy, how to fix it, are we in a recession, and who is to blame (they actually created an NCAA style bracket). It’s really crazy to me how all over the board everyone is. Anyways, I thought this one was interesting because Ben Stein tries to comfort the American people about the economy and suggests buying Real Estate.

For all of your mortgage related questions or economy rants, you can reach me at or 805-540-0866.

Written by Keith Byrd - Go to Keith's Website/Profile