Happy Hump Day friends! I got LOTS of DMs yesterday about my IG story and the lo…
Happy Hump Day friends! I got LOTS of DMs yesterday about my IG story and the loan limit increase for Conventional Loans so I wanted to clear a few things up! 1. These are the limits for Conventional Loans; FHA has not yet released their loan limits for 2019 so I will update you as soon as they are released! (Currently at $405,950 for SB/Riverside and $679,650 for OC/LA) 2. The loan limits are NOT the maximum purchase price. Depending on how much the borrower is able to put down, the purchase price can be MUCH higher than the loan limit. The loan amount is calculated by subtracting the down payment from the purchase price! 3. I was also asked a few times when the new loan limits go into effect and the simple answer is that the loan must close on or after 1/1/2019- which means it can be originated prior to January 1st I hope that clears up a little bit of confusion but if you still have questions, PLEASE don’t hesitate to ask! That’s what I’m here for! .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. #loanlimits #realestate #mortgage #realtor #realestateagent #mortgagebroker #mortgagelender #loan #lender #homeloans #loans #refinance #firsttimehomebuyer #home #entrepreneur #finance #lending #newhome #homeowner #homeloan #mortgagelife #realtorlife #homeowners #homebuyers #fha #mortgages #dreamhome #credit #mortgageloans #krystleclearpath #localrealtors – posted by www.instagram.com… – See more Real Estate photos from Local Realtors at LocalRealtors.com
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