It’s no secret home prices have been increasing across the country, and today brings good news to help. Homebuyers seeking conforming loans may now borrow up to $766,550 in most counties and up to $1,149,825 in higher-cost areas!
The size of conforming loans, those backed by Fannie Mae and Freddie Mac, is assessed annually. Based on the home sale data from the past year, this limit is being increased by $40,350 year over year. That’s good news for borrowers who want a wider range of financing options.
The conforming loan limit has increased by almost 40% in a three-year period, in response to the challenging home purchase environment. Click here to see how your county compares to the surrounding region — and, as always, don’t hesitate to reach out to one of our qualified loan officers with any questions!
