Loan limits are looking up!
New conventional loan limits for 2022 are expected in November, but Homeowners is acting now! We have raised our conforming loan limit for new rate locks up to a $625,000 loan amount for one-unit properties. The loan limits for two- to four-unit properties have also been increased.
This is great news, as higher loan limits make it easier for more borrowers to buy higher-priced homes – without the stricter guidelines and higher rates of a jumbo loan.
While higher loan limits are a great way to bring more borrowers into the market, getting pre-approved with your Homeowners Licensed Mortgage Professional remains key in staying competitive. Reach out today to discuss your options.