What does this mean to you, well many consumers were on the bubble for a long time. By that I mean being in a position where they needed to obtain a high balance loan and along with that a higher rate because the loan amount they were applying for was above the conforming limit. Now with the higher limits, many more borrowers will be in a position to obtain the lower priced conforming loans.
General Loan Limits for 2017
Maximum Original Principal Balance for 2017
Units | Contiguous States, District of Columbia, and Puerto Rico | Alaska, Guam, Hawaii, and the U.S. Virgin Islands |
---|---|---|
1 | $424,100 | $636,150 |
2 | $543,000 | $814,500 |
3 | $656,350 | $984,525 |
4 | $815,650 | $1,223,475 |
Maximum Loan Limits for High-Cost Areas for Mortgages Acquired in Calendar Year 2017
All but 87 counties (or county equivalents) will see a loan limit increase.
Units | Contiguous States, District of Columbia+ | Alaska, Guam, Hawaii, and the U.S. Virgin Islands |
---|---|---|
1 | $636,150 | $954,225 |
2 | $814,500 | $1,221,750 |
3 | $984,525 | $1,476,775 |
4 | $1,223,475 | $1,835,200 |
*source Fannie Mae
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