We have some really good, breaking news as Brevard county loan limits set to increase in 2018!
Federal Housing Finance Agency (FHFA) announced this week that the maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018. In most of the U.S., and including Brevard County, the 2018 maximum conforming loan limit for one-unit properties will be $453,100, an increase from where it was at $424,100 in 2017.
- For a list of the 2018 maximum loan limits for all counties and county-equivalent areas in the U.S. click here.
- For a map showing the 2018 maximum loan limits across the U.S. click here.
- For a detailed description of the methodology used to determine the maximum loan limits in accordance with HERA, click here.
- To Read The Entire Bulletin, Click Here!
In raising the conforming limits, by almost $30,000, this will certainly help many avoid jumbo loans (loans that are too big to meet Fannie and Freddie requirements) and their more stringent guidelines. This may allow more Brevard residents to be able to purchase that home of their dreams.
If you’re a real estate agent, be sure to share this breaking news with your clients to help them purchase their dream home today
If you have any questions regarding this increase, or anything mortgage related, please contact us anytime. Talk to you soon!