Wall Street Journal Article on Jumbo Loans

This article was recently published in the Wall Street Journal.  It is entitled “The Return of the Jumbo Mortgage” and it discusses non conforming loans being brought back on the market. A jumbo loan means that the loan amount is not conforming to the amount that will allow it to be purchased by Freddie Mac and Fannie Mae. The conforming loan limit was recently changed from $417K nationwide to now be determined by county. In some counties, the conforming loan limit goes up to $729,750. The conforming loan limit in our area is $562,500 for Nevada County and $580,000 in Placer County. To read this entire article click here.