If you’re looking to buy or refinance a home, I have great news to share with you.
The Federal Housing Finance Agency (FHFA) just recently announced they will raise the maximum conforming loan limits for 2018 to a maximum amount of $453,100 – for reference, the loan limits for 2017 are $424,100.
That’s $29,000 more buying power in 2018 without getting into Jumbo Loan territory. In certain high cost areas, the loan limit is even higher.
This means you may be able to:
- Purchase a higher priced home with more financing options, possibly including lower rates.
- Refinance an existing, higher-rate “jumbo” loan and possibly drop mortgage insurance premiums, too.
- Combine a 1st and 2nd mortgage.
If you have questions about this 2018 conforming loan limit change, or if you need a referral to a few trusted and proven lenders who have done millions of dollars worth of loans for my clients, please reach out to me. And if you have friends who may benefit from this news, please pass it along. Just contact me and I’ll be happy to help.
Broker/Owner Advantage Realtors