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SF Prices Officially "Jumbo"

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Though home prices in this city never seemed "conventional" to most of us, now the federal government has agreed. The HSH Blog reports that "As of October 1, 2011, conforming loan limits in designated 'high-cost' areas of the country–like San Francisco–are about to drop to $625,500." And qualifying for a conforming loan is much easier than for a jumbo. Can we get an example of what that means, in real numbers, to a San Francisco buyer? Yep, but it's not pretty: "As of May 2011, a $925,000 home purchase needs a 21 percent down payment to keep it within conforming loan limits. After October 1, 2011, that figure will jump to 33 percent." [The HSH Blog]