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New Conforming Loan Limits for 2018: What it means for you

For the second year in a row, the Federal Housing Finance Agency (FHFA) has announced an increase in the conforming loan limits for Fannie and Freddie for 2018. The conforming loan limit across all counties is now $453,100, up from the $424,100 figure for 2017. In high cost areas such as Ventura County and Los Angeles County, there is also a second tier called the Max Conforming loan limit and that number has increased from $636,150 in 2017 to $672,750 for Ventura County and $679,650 for L.A. County for 2018.

So, what does this mean for the buyer today? With these new loan limits, a home buyer now has an increase in buying power without the interest rate premium and additional underwriting overlays associated with jumbo loans.
With these new loan limits, assuming a buyer puts 20% down, they can now have a MAX purchase price of:

Ventura County: $840,937

Los Angeles County: $849,562

Want to know more? Contact a Lender at Capstone Direct to answer your residential mortgage questions.

Sincerely,
Keith Beaver
NMLS # 1684131
Cell: 805-372-1852
Keith@Capstonedirect.com

Brian Farwell
NMLS # 1406196
Cell: 818-448-3842
Brian@Capstonedirect.com


  • Posted By 
  • Berkshire Hathaway HomeServices California Realty
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