New FNMA loan limits - Full List

Here is the full nationwide list of the HUD numbers for conforming loan limits that we've all been waiting for. Realtor.com did a nice job of putting together the list, so here's the link: http://www.realtor.org/GAPublic.nsf/files/chart_hud_loan_limits_08.pdf/$FILE/chart_hud_loan_limits_08.pdf

For San Diego, the new GSE limit is the same as the new FHA limit: $697,500!!

That's really good news for those purchasing within 6-8 miles of the coast where even a condo can cost $500,000. AND, if you have a adjustable rate mortgage that is less than $697,500, you can refinance at a conforming rate (assuming that you meet the other criteria like loan-to-value ratios, credit scores, etc.).

If you are wondering how these numbers were determined, HUD came up with these numbers by multiplying the median price of homes for that metro area X 125%, but limited to $729,500. It isn't clear to me what dataset they were using to determine median price data as the Dataquick numbers yielded a significantly lower median price. But, as agents and homeowners, we're happy the number is as high as it is.

John Hokkanen