Good news! The Federal Housing and Finance Agency (FHFA) has just raised their standard loan limit by 6.8% to a maximum of $453,100. What’s even better is that Opes Advisors has gotten a jump start and we’re locking loans now at the higher 2018 loan amounts. You don’t have to wait until January to finance the home you want. You may qualify under the new amounts now. In certain high cost areas, the limits may be even higher.*
Conforming Maximum Loan Amount: $453,100 This means you may be able to:
- Purchase a higher priced home with more financing options, possibly including lower rates.
- Refinance an existing, high-rate “jumbo” loan and possibly drop mortgage insurance premiums, too
- Combine a 1st and 2nd
Contact us to learn more about how these new conforming loan amounts might increase your buying power in 2018.
*Effective on or after 12/11/17 for standard conforming loans and for high balance loans. Maximum loan amount varies by high Cost Area. Contact me or visit FHFA’s website for a complete list of loan limits for all counties. Amounts shown are for 1-unit residences; see FHFA website for conforming loan amounts on 2 – 4 units. FHFA website: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
This is not a commitment to lend. Programs available only to qualified borrowers. Subject to credit approval, underwriting approval, and lender terms and conditions. Programs subject to change without notice. Restrictions may apply. 12/17
Opes Advisors, a Division of Flagstar Bank | Member FDIC | Equal Housing Lender