When I first heard that conforming loan rate limits in California would be rising from $417,000 to $729,000 I imagined lower rates, better terms and new opportunites for the real estate buying/selling public.

Well, now that the smoke has cleared, and the multitude of rules surrounding the new jumbos are surfacing, I don’t think that most California consumers will realize any advantage over other jumbo loan types. The attached Wall Street Journal article sheds light on new jumbo conventional loan products. And be advised: if you think that these products offer advantages to you, you’ll need to act fast as the increase in the conforming loan limit is scheduled to expire on December 31.

http://tinyurl.com/6bmqcv