Fannie Mae and Freddie Mac have announced their new increased Loan Limits for 2018 to the following:
One Unit $453,100/679,650 (High Cost Area)
Two Unit $580,150/870,225 (High Cost Area)
Three Unit $701,250/1,051,875 (High Cost Area)
Four Unit $871,450/1,307,175 (High Cost Area)
Due to rising property values the increase was adjusted to accommodate more allowable financing to home buyers.
These new conforming limits will help buyers from having to take a Jumbo mortgage loan, that generally come with more stringent qualifying criteria.
Call me today for more information and to get pre approved on your home purchase or to refinance to explore more favorable interest rates.
I can start taking applications now with these new loan limits.