The Federal Housing Finance Agency increased the 2018 conforming loan limit to $453,100; this amount is $29,000 higher than 2017.
What does this mean for you?
Conventional loans in the amount of $453,100 and less are typically underwritten in accordance with Fannie Mae or Freddie Mac guidelines. Loans in excess of this amount are considered jumbo loans and are underwritten in accordance with the specific investor’s requirements.
Jumbo loan requirements can be more stringent than conforming loans. Conforming loans often have lower interest rates
than jumbo loans.
There are conforming loan programs for as little as 3% down payment. These features are now available at a higher loan amount.
Contact us and we can see if you can take advantage of this new loan limit.
We offer a variety product services, ask us how we can assist you today:
Counsel Mortgage Group®, LLC
AZ MB #0909580
CA DBO #60DBO43873
John Rapasky is the President of the Counsel Mortgage Group, LLC. Copyright © 2017 Counsel Mortgage Group®, LLC