Fantastic News Brevard County! Loan limits are set to increase in 2019! 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 will be going up in 2019. In most of the U.S., and including Brevard County, the 2019 maximum conforming loan limit for one-unit properties will be $484,350, an increase from $453,100 in 2018.
- For a list of the 2019 maximum loan limits for all counties and county-equivalent areas in the U.S. click here.
- For a map showing the 2019 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.
In raising the conforming limits, by a little over $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 in 2019. If you’re a real estate agent, be sure to share this exciting 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!
