The FNMA High Balance loan limits for Sonoma County Real Estate Mortgages will be dropped to $520,700 from the previous loan limit of $660,200 in the next month. This 20% drop in borrowing power through the GSA’s could prove to be another hit for the struggling Sonoma County Mortgage industry. Many of the loans we do in Sonoma County, or used to do, were in that 400k to 650k range. Now those loans over the 520,000 threshold will need to be financed by Jumbo investors which typically have even tougher restrictions and guidelines than the FNMA guidelines. There isn’t much anyone can do but acknowledge that interest rates, regardless of whether they are a high Balance loan amount or Jumbo loan amount are still tremendously low. One option for some may be to obtain a high balance 1st deed of trust in the maximum loan amount and couple that with a smaller 2nd deed of trust that could be paid off in a shorter amount of time. If you are seeking more information and/or Mortgage Strategies for a Sonoma County Mortgage please make calling a Local Mortgage expert with 20 years experience a first choice. I am not affiliated with a “Big Bank” and I don’t have the “Big Bank” mentality. I care about you and your loan!
Hunt For Your Loan
707-328-1233
