The Federal Housing Finance Agency (FHFA) has increased their threshold on loans for 2019. The loan limit ceiling has increased to $484,350, an increase from $453,100 for Fannie Mae and Freddie Mac loans.
This change will also be impacting FHA – insured Home Equity Conversion Mortgages with an increase to $679,650 up from $636,150. This means that more loans will be able to avoid going “jumbo” by raising the ceiling for conforming loan limits. The last increase happened in 2016 when 188 US counties had loan limits increased. Now, over 3,000 U. S. counties will benefit from this increase.
All around good news for home buyers who are in the market for a higher priced home!…
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