BREAKING NEWS: First Home Mortgage Offering New Conforming Loan Limits!

BREAKING NEWS: First Home Mortgage Offering New Conforming Loan Limits!

It’s no secret that home prices are increasing nationwide. There is good news, however, the amount you can borrow is increasing, too!

Every year Fannie Mae and Freddie Mac evaluate the conforming loan limit, which can differ from county to county. In 2021, for example, the maximum conforming loan amount in most counties increased from $548,250 to $647,200 – an increase of roughly 18%. This annual evaluation, which often results in an increase, typically takes place in late November.

With home prices continuing to increase First Home Mortgage is getting ahead of the curve and is delivering a significant increase to the conforming loan limit now. Effective today, First Home Mortgage is now allowing for Fannie Mae and Freddie Mac loans up to $715,000, an increase of more than 10%.

 

Contact us or one of our qualified Loan Officers to learn more!

Author: James Baublitz, VP Capital Markets

Related Posts

First Home Mortgage Named Top Performing and Gold Tier Lender by Maryland Department of Housing and Community Development (DHCD)
First Home Mortgage Named Top Performing and Gold Tier Lender by Maryland Department of Housing and Community Development (DHCD)

We’re proud to share that First Home Mortgage has been recognized as a Top Performing Lender and a Gold Tier Lender by the Maryland Department of Housing and Community Development (DHCD) during this year’s Maryland Mortgage Program (MMP) Annual Awards. This recognition highlights our continued commitment to helping more Maryland families achieve homeownership—especially first-time buyers. […]

April 22, 2025
Full Post
First Home Mortgage’s 2025 Washingtonian Award Winners
First Home Mortgage’s 2025 Washingtonian Award Winners

We are thrilled to announce that several of our incredible loan officers at First Home Mortgage have been recognized as Washingtonian Magazine’s 2025 Top Mortgage Professionals! This prestigious honor highlights their dedication, expertise, and commitment to providing exceptional service to homebuyers. Each year, Washingtonian Magazine recognizes the best in the industry based on client feedback, […]

March 25, 2025
Full Post
First Home Announces Matt Nader As New President
First Home Announces Matt Nader As New President

Exciting news from First Home Mortgage! We’re thrilled to announce that Matt Nader has been appointed as our new President. As the mortgage industry evolves rapidly, with challenges like housing supply imbalances, margin compression, and increased competition, Matt’s leadership marks a new chapter of innovation and resilience for our company. A Visionary Leader with a […]

December 11, 2024
Full Post
  How Can We Help?