In counties that currently have a loan limit of 729,750 for 2013 will be reduced to 625,500. These counties include Alameda, Contra Costa, Santa Clara, San Francisco and other counties to be considered High Cost counties by HUD.
Although the bulk of Buyers are in lower price ranges, any change in the loan limit will have some measurable effect on purchasing in California high value markets.
If you are considering a purchase using this kind of financing in a high price market area, you will want to find that home by the end 2013, otherwise you will need to consider other financing options.
For any questions or to get started on your home search now, please call me. 925-580-9829