CONTACT OUR TEAM: 

Tel: 727-821-5518   Email: Click here

575 2nd Avenue South, Suite 204

St. Petersburg, FL 33701

© 2016 by All American Mortgage Company

LICENSED MORTGAGE BROKER  NMLS #381111 NMLS#1499481 NMLS #381294

JC Russell Enterprises Inc., D/B/A All American Mortgage Company

ALTERNATIVELY YOU CAN FILL

IN THE FOLLOWING CONTACT FORM:

  • Facebook Basic Square
  • Twitter Basic Square
  • LinkedIn Social Icon

December 4, 2018

January 24, 2018

May 4, 2017

Please reload

Recent Posts

I'm busy working on my blog posts. Watch this space!

Please reload

Featured Posts

2019 Loan Limit Increase

December 4, 2018

The Federal Housing Finance Agency (FHFA) announced the maximum conforming loan limits for conforming loans to be acquired by Fannie Mae and Freddie Mac in 2019. In most of the U.S., the 2019 maximum conforming loan limit for one-unit properties will be $484,350, an increase from $453,100 in 2018.

 

The Housing and Economic Recovery Act (HERA) requires that the baseline conforming loan limit be adjusted each year for Fannie Mae and Freddie Mac to reflect the change in the average U.S. home price. FHFA published its third quarter 2018 House Price Index (HPI) report, which includes estimates for the increase in the average U.S. home value over the last four quarters.

 

According to FHFA's seasonally adjusted, expanded-data HPI, house prices increased 6.9 percent, on average, between the third quarters of 2017 and 2018. Therefore, the baseline maximum conforming loan limit in 2019 will increase by the same percentage. For areas in which 115 percent of the local median home value exceeds the baseline conforming loan limit, the maximum loan limit will be higher than the baseline loan limit. HERA establishes the maximum loan limit in those areas as a multiple of the area median home value, while setting a "ceiling" on that limit of 150 percent of the baseline loan limit.

 

Median home values generally increased in high-cost areas in 2018, driving up the maximum loan limits in many areas. The new ceiling loan limit for one-unit properties in most high-cost areas will be $726,525 — or 150 percent of $484,350. As a result of generally rising home values, the increase in the baseline loan limit, and the increase in the ceiling loan limit, the maximum conforming loan limit will be higher in 2019 in all but 47 counties or county equivalents in the U.S.

 

For a map showing the 2019 maximum loan limits across the U.S., click here

 

Source: FHFA -- Note, announcements of similar increases for FHA and VA Loans should be coming shortly. 

Share on Facebook
Share on Twitter
Please reload

Follow Us
Please reload

Search By Tags
Please reload

Archive
  • Facebook Basic Square
  • Twitter Basic Square
  • Google+ Basic Square