For more information on how this will affect each loan type, click the loan that you are interested in below:
The Federal Housing Finance Agency (FHFA) today announced the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018. In most of the U.S., the 2018 maximum conforming loan limit for one-unit properties will be $453,100, an increase from $424,100 in 2017.
FHA has updated its list of the maximum mortgage limits for FHA-insured forward mortgages, effective for case numbers assigned on or after January 1, 2018, through December 31, 2018. FHA loan limits will increase in 3,011 counties and stay the same in 233 counties.
VA Loans will also have new limits; however, for pricing purposes, keep in mind that any amount over the conforming lending limit of $453,100 will be considered high balance for VA on or after January 1, 2018.
If you are interested in assistance from one of our advisors to help you with your home purchase, please call or email us.
Engel & Völkers Big Sky Country Real Estate
319 East Mendenhall Bozeman, Montana | 406.404.1960
105 West Park, Suite 5 Livingston, Montana | 406. 223.0453
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