For the last three years, Fannie and Freddie have backed new mortgages as large as $729,750, but that could all change September 30th when regulators prepare to drop the level to $625,500, so that taxpayers are no longer expected to shoulder homes valued well above the pay level. But in California – buyers and sellers will be wondering why they should be punished for living in an expensive region. This unfortunately means buyers who will have to ante up more of their cash money.
We’ll see what happens. But if you want to buy something in the 900s with 20% down – yes, this will impact you.