Conforming Mortgage Limits Will Rise Beginning Jan 2017

Conforming Mortgage Limits Will Rise Beginning Jan 2017

Conforming mortgage limits will rise beginning Jan 1, 2017 from $417,000 to $424,100 in most regions of the United States.  Why is this important to you, you may ask yourself?  Well, you could purchase $7,000 more of a home without having the loan be considered a jumbo loan which usually requires a substantially higher down payment and higher interest rate.  We are most definitely going to need all the help we can get now with the possibility of interest rates creeping up in the near future.  If the loan falls under the $424,100, you could also obtain an FHA loan with 3.5% down.  

Victor DeFrisco Headshot
Phone: 561-951-3759
Dated: November 27th 2016
Views: 228
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