Last week The Federal Housing Finance Agency announced the new conforming limits for 2021.
(insert drum roll here)
Single Family limits have increased from $510,400 to $548,250.. roughly a 7.4% jump in just one year. This is a clear sign of the current pandemic boom we have seen this year and also an indicator of why the market has been so crazy.
In line with the aforementioned limit- High balance conforming is now allowed up to $822,375.
What does this mean? All the Benefits of low rates, down payments and guidelines allowed with conventional guidelines can now be applied to higher priced homes making it easier for home buyers to finance their next home.
After 11yrs straight with the limit holding at $417,000 this will be the 5th increase in a row, and the LARGEST single increase since 2005.
Call me for all your residential lending needs!
Robert Rauf
Mortgage Loan Originator NMLS# 248937
http://www.homebridge.com/RobertRauf
or my blog: http://activerain.com/blogs/rrauf
Office: (732)908-4868 Cell (732)740-0175
RRauf@HomeBridge.com
www.RobertRauf.com
Since 1987 I have been helping my clients fulfill their dream of home ownership! HomeBridge Financial Services, Formerly REMN, HomeBridge Financial Services is located at 9 Grand Ave, Building 2 Suite A Toms River, NJ 08753. NMLS #6521. New Jersey Licensed Lender and Mortgage Banker #L041053. Visit www.Homebridge.com for more information. NJ Mortgages, New Jersey Mortgages, Mortgages in NJ, mortgage in New Jersey, Mortgages in New Jersey, Toms River NJ 08753, Toms River NJ 08755, Brick NJ 08723, Brick NJ 08724 Mortgage in Ocean County NJ, Mortgage in Monmouth County NJ, Jackson NJ 08527, Howell NJ 07731, Lacey 08731 08734, Beachwood 08722 Bayville 08721,
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