Great News for Buyers – Loan Limits INCREASED!

Great News for Buyers – Loan Limits INCREASED! Fannie Mae &  Freddie Mac have announced this increase today!

Loan limits in 2019 are increasing. The new loan limit for most of the country will be $484,350. A 6.9% increase over the 2018 limit.

If you live in Riverside & San Bernardino counties, this is what your loan limits will be.

1 Unit: $484,350

2 Unit: $620,200

3 Unit: $749,650

4 Unit: $931,600

But here in Los Angeles & Orange Counties, which are considered the HIGH BALANCE MARKET,  the Loan Limits area HIGHER!  Check with your lender if you live in other counties in Southern  & Northern California.

High Balance Market 

1 Unit: $726,525

2 Unit: $930,300

3 Unit: $1,124,475

4 Unit: $1,397,400

What does this mean to you?  $726,525 is now the maximum price for a conforming loan.  The interest rates are better and easier to obtain. In the past, this price was considered a Jumbo Loan: higher costs and harder to qualify for.

So it’s time to start shopping!  Go to www.Beachcitiesonline.com and create your personal home search!

Whether you are  a first time home buyer, considering a home close to a school or park or looking to move-up to a larger home, you have many choices here.  Call Carol Gilles at 310-864-9738 for a private showing.