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Be Thankful For: 2014 Loan Limits remain unchanged!

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Mortgage and Lending with Nick Pakulla Mortgage Team Maryland, Virginia, District of Columbia NMLS#: 728211

 

Rockville, MD - 11/26/13

Just before the holiday season gets into full gear, one piece of mortgage news in Rockville, MD to be thankful for!

 

Today, the Director of the Federal Housing Finance Agency announced in a press release that loan limits for Fannie Mae and Freddie Mac will be unchanged for the coming year.  Nationally, this is $417,000 and higher cost areas limits are up to $625,500.  This is great news as there were substantial rumors about the limits coming down.  Many industry experts felt that lowering the limits would have a significant impact on buyers’ purchase ability in higher cost areas, such as ours.

 

The Fannie Mae loan limit lookup table can be found: https://www.fanniemae.com/content/tool/loan-limit-table.xls

 

Quick Summary:

Maryland:

Montgomery / PG / Frederick $625,500

Howard / Anne Arundel / Baltimore $494,500

DC: $625,500

Northern Virginia: $625,500

 

May your Thanksgiving holiday be filled with warmth and laughter.

thanksgiving rockville md mortgage

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Nick Pakulla / Loan Officer / NMLS# 728211 / First Place Bank Mortgage - A Division of Talmer Bancorp / 15400 Calhoun Drive, Rockville MD 20855 / 301.585.7283 / http://www.nickhomeloan.com

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