NEW LOAN LIMITS FOR RESDIENTIAL BUYERS

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The Federal Housing Finance Agency (FHFA) recently announced the maximum loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018. The maximum conforming loan limit for condos and lofts will be $453,100, an increase from $424,100 in 2017. Additionally, the Federal Housing Administration (FHA) made it known that nearly every area of the U.S. will see loan
limits increase for condos and lofts next year as well. As a result of these loan limit changes starting on January 1 st for conforming and government insured mortgages home buyers will be able to purchase higher priced condos and lofts with more financing options and potentially better terms.

Give Andrew Luett at Compass Mortgage a call to learn how this might effect your loft or condo loan, c.773-456- 9662 | [email protected]