The Federal Housing Finance Agency (FHFA) has announced that the maximum conforming loan limits for mortgages acquired by Fannie Mae and Freddie Mac in 2018 will increase.
In most of the country, the 2018 maximum loan limit for one-unit properties will be $453,100.00, an increase from $424,100.00. At Movement Mortgage, we believe this will be most beneficial since the average home price in San Antonio continues to rise.
In higher – cost areas, higher loan limits will be in effect putting these homes in the Conforming Jumbo Bracket. The new ceiling loan limit for higher-cost areas, which applies in areas with the most expensive homes, will be $679,650.00 on up.
The new conforming loan limits will apply to loans delivered to Fannie Mae and Freddie Mac on or after January 1, 2018.
LULY SHANNON, RESIDENTIAL MORTGAGE LOAN OFFICER NMLS: 991808
(210) 408- 2600 * (210) 232- 5896