New Higher Conventional Loan Limits for 2019

Fannie Mae and Freddie Mac are Making It Rain for the 3rd year in a row

Fannie and Freddie are responsible for purchasing home loans from lenders, so they can replenish their supply of cash or capital funds in order to continue providing financing to borrowers.  They set lending guidelines and dictate the loan limits that are considered “Conventional”.  From 2006 til 2016 there was no change in the loan limits, they were stuck at $417,000.  This meant the highest loan you could get under the conventional guidelines was $417,000.  Anything above that put you in Jumbo Loan territory with higher rates and harder qualifying.

2019 will mark the 3rd year in a row that the conventional loan limit will be increased.  In 2017 it was increased to $424,100, then in 2018 to $453,100.  In 2019 the conventional loan limit is being raised to $484,350! 

“As a result of generally rising home values, the increase in the baseline loan limit, and the increase in the ceiling loan limit, the maximum conforming loan limit will be higher in 2019 in all but 47 counties or county equivalents in the U.S.,” the FHFA said.

For a county-by-county breakdown of the 2019 conforming loan limits, click here.

Contact Us Today to Get A Quote on your new loan purchase or refinance.  We can already accept loans to the new Conventional Loan Limit of $483,350, so don’t wait til 2019 to take advantage.  Even if your loan amount if going to be above $483,350, we can still help you qualify for conventional rates and costs on our Nationwide High Balance Loans to $726,525!  Then, if all else fails our Jumbo rates give the big banks a run for their money!

Just a few more reasons why Wiser Lending is the wiser choice for home loans!

Eric Weishaar

President | NMLS# 207659