We just received word that the new loan limits in 2018 for the government agencies (Fannie and Freddie) have been increased! The conforming loan limit of $424,100 has increased to $453,100, and the agency The limit for high-balance conforming loans have gone from $636,150 to $678,650.
Loans that are below these limits generally have better terms, so this is a change that can help people in a lot of different situations.
Are you currently paying PMI (Private Mortgage Insurance)?
Do you want to take some cash out of your home to do some work or financing a special need?
Would you like to refinance out of a 2nd loan to a single loan?
The benefits are open to homeowners of condominiums, Townhouses and Single Family residences, from 1-4 units. Loans on 2 to 4 units have higher limits.
This article was provided by friend and trusted resource Eric Nelson. You can reach me at firstname.lastname@example.org, or 408-268-2442. Please contact him if you want more information.