Big News! Fannie and Freddie Will Increase Loan Limits!

By
Mortgage and Lending with Finance Of America NMLS #311662

The GSE's Fannie Mae and Freddie Mac will be able to purchase loans for single family homes valued up to $453,100!

 

This new conforming loan limit restricts the government backed agencies amount they may finance. So the limit, which has been $424,100 this year will go up to $453,100 for 2018 according to regulators at the Federal Housing Finance Agency.

 

This could also bode well for higher cost counties but those limits have yet to be released.

Posted by

Matt Brady

 

Builder Sales Manager, NMLS ID#311662

(858)342-8659 cell |844-268-1952fax

 

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mbrady@skylinehomeloans.com| mattbrady.skylinehomeloans.com    
1455 Frazee Road., Suite 705| San Diego, CA 92108

 

    

 

 

 

BIA SanDiego 15 year Member and P2 Sponsor

 

 

 

BIA SMCBoard Member since 2012

 

 

 

 

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Rainmaker
948,274
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hi Matt Brady 

This is a good thing. I hope wages rise to help offset the indebtedness

Nov 28, 2017 11:46 AM #1
Rainmaker
454,172
Matt Brady
Finance Of America - Del Mar, CA
One of San Diego's Best Lenders

Yes, Doug Dawes, it can be a double edged sword. It might also affect the people that would prefer jumbo lending prices that fall into the new loan limits.

Nov 28, 2017 12:10 PM #2
Rainmaker
1,508,825
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • Green • GRI • HAFA • PSC Calabasas CA

 Loan limits in markets designated as "high cost areas" like mine, will increase to $679,650.

Nov 29, 2017 11:48 PM #3
Rainmaker
2,388,729
Grant Schneider
Performance Development Strategies - Armonk, NY
Your Coach Helping You Create Successful Outcomes

Good afternoon Matt - that is a good thing to keep pace with values.  And I believe wages will rise this year.

Dec 12, 2017 11:58 AM #4
Rainmaker
454,172
Matt Brady
Finance Of America - Del Mar, CA
One of San Diego's Best Lenders

Hi Grant, I agree wages should have a good year. The tax bill might have a dampening effect on home values though.

Dec 12, 2017 12:41 PM #5
Ambassador
4,422,436
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

It's good news, Matt, especially as prices continue to rise...now we need to see increases in wages and salaries, too!

Glad to hear about San Diego!! 2018 should be an interesting year!

Jeff

Dec 15, 2017 01:01 PM #6
Rainmaker
454,172
Matt Brady
Finance Of America - Del Mar, CA
One of San Diego's Best Lenders

Hi Jeff Dowler, Yes, $649,750 will cover a large percentage of the loans needed in San Diego. It will be particularly helpful for VA and FHA loans.

Dec 15, 2017 02:05 PM #7
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