The Federal Housing Finance Agency (FHFA) today announced this week that the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2019. In most of the U.S., the 2019 maximum conforming loan limit for one-unit properties will be $484,350, an increase from $453,100 in 2018.
Impact on high-cost areas (High balance):
In higher cost areas, higher loan limits will be in effect. (In areas where 115 percent of the local median home value exceeds the baseline loan limit, the maximum area loan limit will be higher). The new ceiling loan limit, which applies to most San Francisco Bay Area counties, will be $726,525 for one-unit properties.
Contact me today to schedule a meeting to learn more about the changing mortgage market and how I can contribute to your success in the coming year. I look forward to hearing from you.