Loan Limits Increase, Saving Buyers Money


Conforming loan limits have increased to $484,350.

High balance loan limits have increased to $726,525.

Conforming Limits

If you want the best loan, a conventional loan, you can now borrow up to $484,350 without paying a higher interest rate for a jumbo loan. If you have not owned a home in the past three years, you can do as little as 3 percent down payment (5 percent down for previous home owners).

High Balance Limits

If you live in an area where the median price of homes is higher than the national average, such as much of California or in Western Washington, then you can borrower up to $726,525 without paying a higher interest rate for a jumbo loan.

Advantages of the Mortgage Broker

  • Your mortgage broker (myself in CA or WA) can get you these loans now, today. The banks and other lenders are trailing behind at waiting until 2019 for availability.
  • Your mortgage broker will shop wholesale, saving you money over retail (banks, etc.) Why pay more?
  • Only the mortgage broker is required by federal lending law to get you the best and lowest interest rate they have available.
  • A mortgage broker is required to take classes annually, to update fingerprinting/criminal background checks every three years, to have their credit checked regularly. Why would you go to an unlicensed loan officer at a bank or credit union for the most important financial decision of your life? Yes, I am biased, but for a very good reason!

Thank you for reading and passing on this vital information to your real estate agent and interested home buyers.
Carolyn Warren, NMLS # 1284134 Apply online here.