New Conforming Loan Limits / by Chris Bonner

The Federal Housing Finance Agency (FHFA) that oversees Fannie Mae and Freddie  Mac announced that the 2018 conforming loan limits will increase from $424,100 to $453,100 for a single family residence (higher limits are available for 2-4 unit properties). This is great news for anyone needing a reduced down payment or guideline flexibility that is not readily available with jumbo financing. The change is effective with closings after January 1.

As for VA loans, they have historically followed conforming loan limits so there is every reason to believe they will also raise their limits to the new higher amount as well. 

Click here for more information about these changes>>