Conforming Loan Limits To Rise 69

Dated: 12/12/2018

Views: 197

 A “conforming mortgage” is a home loan with a loan amount up to $484,350, which also fits underwriting guidelines set forth by Fannie Mae and Freddie Mac.

The maximum conforming loan amount that these programs can back will increase to $453,100 for the year of 2019 (up from $484,350 in 2018) the Federal Housing Finance Agency announced on November 27th.

For high-cost areas, the limits will rise to $726,525 from $679,650 during the same period.

You can easily determine your area’s limit by following this link:  https://bit.ly/2C665VU

NAR President John Smaby issued a statement applauding the government’s announcement: “Without this assurance that loan limits keep up with home price growth, borrowers across the country risk being pushed out of the market altogether as mortgage rates and rising home prices continue to hold back potential homebuyers.”

Is now the right time to buy? Give us a call today: The Stephanie Woods Team 928.237.4435 https://www.prescottazhomefinder.com/

 

Want to Advertise on this Site?

Latest Blog Posts

Why You Should INVEST In A Home Inspection

Why you should INVEST in a home inspectionWhether you have purchased many homes, or you are a first-time buyer, a home inspection is highly recommended. While the home may look to be in exceptional

Read More

Looking For Something To Do As The Winter Melts Away And Spring Emerges

Looking for something to do as the winter melts away and spring emerges? Check out these great local events:Prescott Astronomy Club Starry Nights Star Party March 9th, 2019 7:00-9:00 pm at 7931

Read More

Arizona Renaissance Festival GOING ON NOW

Looking for something FUN to do? Check out the Arizona Renaissance Festival, this year will be the 31st annual festival with something for everybody! Check out 14 DIFFERENT stages of music and

Read More

Mandalay Homes

Peak demand for traditional electricity is typically between late afternoon and evening hours as people return to their homes and start to turn on systems which require energy. Homes which depend on

Read More