The Trickling Down of the Increased Limits

The banks have begun to put out their own guidelines for the new "Jumbo Conforming" loans. Each has slightly different criteria, most are offering more options and flexibility than Fannie Mae (like you can get a cash out on a refinance with some) but there are certainly costs associated with any choice that makes it a riskier loan.

It truly is a different picture for each person, as each person's financial picture is different. For advice specific to your situation, please consult a professional who is well versed in this continually changing market.

Feel free to leave a comment below if you're buying or refinancing in the Bay Area and need guidance.