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Posted on January 11, 2018 - 06:30 PM
by Jana Haren
Good news! The Federal Housing Finance Agency has increased the loan limit from $421,000 to $453,100. What this means to you is that if you’re taking out a loan up to $453,100, you no longer have to qualify for a jumbo loan with higher rates. You can simply qualify for a normal Freddie Mac or Fannie Mae loan.
The main reasons for this loan amount increase are the fact that interest rates are still low and home prices across metropolitan Phoenix and the U.S. have increased significantly.If you’d like more information about loan qualification, I’d be happy to refer you to one of my preferred lenders, who can guide you through the mortgage process.If you have any real estate questions, please contact me. I’m here to help!