2019 Conventional Loan Limits Are Here!

By
Mortgage and Lending with Mason-McDuffie Mortgage, Conventional Loans, Jumbo Loans, FHA, 203(k), USDA, VA, NMLS #138061 MMCD #1141

2019 Conventional Loan Limits Are Here

 

 

     Movin' on up!  Much like the Jeffersons, Conventional loan limits are pushing higher in 2019.  With loan amounts based on median sales price, this is no surprise considering the high rates of appreciation we've seen in so many markets across the US, and this increase will be a tremendous benefit to people in markets where home prices have outpaced loan allowances.

 

 

While FHA, VA, and USDA guidance hasn't been issued yet, it will be soon to follow, and we expect to see increased allowances on those products as well.

 

 

Want to know what loan limits increased to in your county/market?  Send us a quick note here and we'll be happy to send the info for your specific market.  

 

 

     The generic loan limit (the one in the majority of US counties outside of 'high cost' areas) will see an increase from the current 2018 limit of $453,100 all the way up to $484,350!

 

     For most high cost areas, the loan limit for conventional loans will increase to $726,525.  

 

     While this is general guidance, each county is specific, and all but 47 counties (or county equivalents) in the US will see an increase in allowable loan limits on conventional loans in 2019.  Again, if you'd like a list of limits in your market, just let us know at the link above or via email.  

 

     It's also important to note that these limits are for single-unit properties.  For all 2-4 unit properties, limits are higher than the base loan amount.  For example, in most counties were the single-unit property limit is $484,350, the limit for a 4-unit home will see an increase to $931,600.  

 

 

     This should be a great benefit to home buyers in 2019 after 2018 saw such a steep rise in home values.  It will also offer some refinancing opportunties to home owners who saw their homes increase in value but could not access additional capital because of loan limit restrictions.  Especially for buyers in the $700-900K price range, the 2019 conventional loan limit increases will offer more flexibility and options on financing for a new home.

 

 

     MasonMac's policy on new loan limits is:  We will begin originating loans under new loan limit guidance NOW, and since we're a direct lender, we have the ability to help borrowers that can benefit from these higher loan limits NOW.   

 

 

Questions about how the new loan limits can help you or your clients?  Want to get accurate pricing on loans with 2019 loan limits?  Give us a call at 484.680.4852 or ask an expert for a near-immediate response!

close

Re-Blogged 4 times:

Re-Blogged By Re-Blogged At
  1. Fred Griffin presently on Leave of Absence 11/27/2018 04:24 PM
  2. Debbie Reynolds 11/29/2018 12:00 PM
  3. Mary Yonkers 12/19/2018 09:40 AM
  4. Gita Bantwal 01/04/2019 07:03 AM
Topic:
Mortgage / Finance
Groups:
Mortgages
The Lounge at Active Rain
"Whacked"!!!
Bananatude
Bartender, Make it a Double
Tags:
mortgages
conventional loans
loan limits
2019 loan limits

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
3,727,532
George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

John I just got the e-mail on this as well, and it is great news for my part of CT.

Nov 27, 2018 11:33 AM #1
Rainmaker
738,225
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Sounds like good news as the lack of homes on the market is still pushing prices.

Nov 27, 2018 12:51 PM #2
Rainmaker
2,943,219
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

I did not know that, John.... and now I do. Thanks for the update!

Nov 27, 2018 01:17 PM #3
Ambassador
3,073,271
Chris Ann Cleland
Long and Foster REALTORS®, Gainesville, VA - Bristow, VA
Associate Broker, Bristow, VA

Thanks for keeping us in the loop with these new conventional loan limits.  

Nov 27, 2018 01:28 PM #4
Rainmaker
305,555
Wayne L. Brown
Franklin Advantage Inc. - Alpine, CA

Great news.

 

Thanks for the post.

Nov 27, 2018 02:37 PM #5
Rainmaker
805,903
Lanre-"THE REAL ESTATE FARMER" Folayan
Keller Williams Select Realtors-Buy a home in Washington DC. Sell a home in Washington DC - Bowie, MD
I don't make promises.I deliver results.SOLD HOMES

Thank you very much for keeping up abreast of the 2018 Conventional Loan Limit.

Nov 27, 2018 02:42 PM #6
Ambassador
3,981,820
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

Rising prices have sure called for this, John. I hope the VA and FHA limits follow.

Nov 27, 2018 07:12 PM #7
Ambassador
3,899,762
Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

Hi John

Well this is certainly good news for Californians, isn't it!? Thanks for sharing the good news.

Jeff

Nov 27, 2018 08:28 PM #8
Rainer
341,258
Muhammad Mushtaq
Weichert, Realtors® - SBA Group - Fall River, MA
Broker/Realtor

This sure is a good news but it will not help the market due to rise in interest rate. In fact it is paving way to another turmoil in our industry.

Nov 28, 2018 03:05 AM #9
Rainmaker
1,389,914
Kat Palmiotti
Grand Lux Realty, Monroe NY, 914-419-0270, kat@thehousekat.com - Monroe, NY
The House Kat

Thanks for the updated information! 

Nov 28, 2018 03:36 AM #10
Rainmaker
216,862
William Collins
ERA Queen City Realty - Scotch Plains, NJ
Property and Asset Management

John, thank you for the post. I would have to agree with Jeff Dowler. Like California, here in New Jersey with our home prices, an increase in loan limits would be very helpful.

Nov 28, 2018 04:04 AM #11
Rainmaker
1,508,540
Amanda S. Davidson
Amanda Davidson Real Estate Group - Alexandria, VA
Alexandria Virginia Homes For Sale

John, this is great news for my area! Thank you for keeping us up to date!

Nov 28, 2018 05:34 AM #12
Rainmaker
2,415,688
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

John Meussner ...bringing us welcomed & relevant news thank you J.M.

Nov 28, 2018 07:37 AM #13
Rainmaker
364,567
M.C. Dwyer
Century 21 Showcase REALTORs - Felton, CA
Santa Cruz Mountains Property Specialist

Thanks for keeping us updated on the higher loan limits-Santa Cruz County is definitely in the expensive category.

Nov 28, 2018 07:52 AM #14
Rainmaker
782,379
Kevin Mackessy
Blue Olive Properties, LLC - Highlands Ranch, CO
Dedicated. Qualified. Local.

This is important in many different markets, myself included.  This helps to urge some people to take the step into buying.  

Nov 28, 2018 01:16 PM #15
Rainer
496,743
Sham Reddy
H E R Realty, Dayton, OH - Dayton, OH
CRS

Thanks for the update!!!This should be a great benefit to home buyers 

in 2019 after 2018 saw such a steep rise in home values.  It will also offer some refinancing opportunties to home owners who saw their homes increase in value but could not access additional capital because of loan limit restrictions

Nov 29, 2018 04:12 AM #16
Rainmaker
729,071
Robert Rauf
HomeBridge Financial Services (NJ) - Toms River, NJ

I took a different twist on this and posted the Historical limits.  Pretty eye opening - especially since the limit was only in the 150's when I started in this crazy business.

Dec 03, 2018 10:43 AM #17
Rainmaker
1,203,987
Mary Yonkers
Alan Kells School of Real Estate/Howard Hanna Real Estate - Erie, PA
Erie/PA Real Estate Instructor

Thanks for the 2019 update for conventional loans, John Meussner 

Also, congratulations on Feature.

Dec 19, 2018 09:39 AM #18
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Ambassador
880,507

John Meussner

#MortgageMadeEasy Walnut Creek, CA 484-680-4852
Ask an Expert!
*
*
*
*
Spam prevention