houston texas jumbo lenders: Conforming Loan Limit Increase & Jumbo Loans
- 03/07/17 04:52 PM
Fannie Mae and Freddie Mac recently raised the maximum conforming loan limit for the first time in many years. The increase was from $417,000 to $424,100 and took effect on January 1st, 2017. These loan limits apply to most the country except the designated "high cost" locations in Florida, California, Virginia, Colorado, etc. Some of these locations have conforming loan limits over $636,000. Each year, Fannie Mae compares the average home value nationwide in the third quarter with the average home value in the third quarter from the previous year.
A jumbo mortgage is any amount above the conforming loan limit. … (0 comments)
Fannie Mae and Freddie Mac recently raised the maximum conforming loan limit for the first time in many years. The increase was from $417,000 to $424,100 and took effect on January 1st, 2017. These loan limits apply to most the country except the designated "high cost" locations in Florida, California, Virginia, Colorado, etc. Some of these locations have conforming loan limits over $636,000. Each year, Fannie Mae compares the average home value nationwide in the third quarter with the average home value in the third quarter from the previous year. 
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