The Mortgage Corner
There is a huge jump in conforming loan limits for 2018 in line with housing price rises, folks. Here are the new numbers. In line with the Federal Housing Finance Agency (FHFA) announcement yesterday, they are increasing their maximum base conforming and high-cost area loan limits on January 1, 2018.
Freddie Mac and Fannie Mae will purchase mortgages secured by properties not located in designated high-cost areas with original loan amounts up to the following limits:
|
Number of Units |
Maximum base conforming loan limits for properties NOT in Alaska, Hawaii, Guam & U.S. Virgin Islands |
Maximum base conforming loan limits for properties in Alaska, Hawaii, Guam & U.S. Virgin Islands |
|||
|
2018 |
2017 |
2018 |
2017 |
||
|
1 |
$453,100 |
$424,100 |
$679,650 |
$636,150 |
|
|
2 |
$580,150 |
$543,000 |
$870,225 |
$814,500 |
|
|
3 |
$701,250 |
$656,350 |
$1,051,875 |
$984,525 |
|
|
4 |
$871,450 |
$815,650 |
$1,307,175 |
$1,223,475 |
For super conforming mortgages secured by properties located in designated high-cost areas, we will purchase mortgages with original loan amounts up to the following limits:
|
Number of Units |
Maximum loan amount for properties NOT in Alaska, Hawaii, Guam & U.S. Virgin Islands |
Maximum loan amount for properties in Alaska, Hawaii, Guam and the U.S Virgin Islands |
|||
|
2018 |
2017 |
2018 |
2017 |
||
|
1 |
$679,650 |
$636,150 |
$1,019,475 |
$954,225 |
|
|
2 |
$870,225 |
$814,500 |
$1,305,325 |
$1,221,750 |
|
|
3 |
$1,051,875 |
$984,525 |
$1,577,800 |
$1,476,775 |
|
|
4 |
$1,307,175 |
$1,223,475 |
$1,960,750 |
$1,835,200 |
Stay tuned, as it looks like Santa Barbara County’s super conforming limits are unchanged. We will learn more in coming weeks!
Harlan Green © 2017
Follow Harlan Green on Twitter: https://twitter.com/HarlanGreen
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