Peshke Financial
  • Services
    • Tax Preparation
    • Home Loans
    • Personal Finance Coaching
  • About Us
    • Meet Chad
    • Meet Emilie
    • Chad's Story
  • Client Resources
    • Tax Resources
    • Home Loan Resources
    • Financial Coaching Resources
  • E-News
  • Client Reviews
  • Contact Us
  • Services
    • Tax Preparation
    • Home Loans
    • Personal Finance Coaching
  • About Us
    • Meet Chad
    • Meet Emilie
    • Chad's Story
  • Client Resources
    • Tax Resources
    • Home Loan Resources
    • Financial Coaching Resources
  • E-News
  • Client Reviews
  • Contact Us
Search by typing & pressing enter

YOUR CART

E-News

Making Finances Simple. Changing Lives.

12/5/2019

Home Loan Limits Have Increased Again!

Every year, Fannie Mae & Freddie Mac assess existing loan limits on conventional loans, to see if an increase is warranted due to rising home values. This can be a huge benefit for those who are acquiring home loans near these limits. See below for specifics and how this could impact you.....
​For 2020, regular conventional loan limits are increasing from $484,350 to $510,400 (one-unit homes).

Conventional high balance loan limits will be changing from the 2019 level of $726,525 up to $765,600 (one-unit homes).
 
The above represents 5.4% increases year-over-year, a figure that matches the FHFA Housing Price Index for the 3rd quarter of the year.

Multi-unit homes (duplexes, etc.) have higher loan limits than those one-unit amounts listed above.

FHA generally conforms to the Fannie Mae & Freddie Mac changes, but are more specific to your area. FHA mortgage limits can be found by clicking here.

What Does This Mean For You?
This now fits more loans into the regular and high-balance conventional loan boxes, which means less Jumbo loans.

This is beneficial for those on the edge of loan limits as all conventional loans have more lenient guidelines for qualifying, as well as superior loan terms (lower rates & lower fees).

It may also allow some folks more room to do a cash-out loan and fit within conventional guidelines and terms.
 
And while these changes don’t officially go into effect until January 1, 2020…we’re taking the higher loan limits now!!

Contact us if you have questions as it pertains to your specific situation…we’re happy to help!

Comments are closed.

SERVICES
ABOUT US
CLIENT RESOURCES
E-NEWS
CLIENT REVIEWS
CONTACT US

Picture
Picture
​​© 2023 Peshke Financial Inc., all rights reserved. NMLS #2244878. "Making Finances Simple. Changing Lives." is a pending trademark with USPTO. Material contained in this website is for informational purposes only and is not meant to be construed as direct financial advice for your specific situation. It is recommended that you consult with your own advisors for any personalized financial guidance. Since we’re not licensed attorneys, we cannot provide legal advice. As such, any info contained in this website should not be construed as direct legal advice. Individual Licensure (see profiles) - click here. Send Docs Securely - click here.