Increasing Loan Limits Spell Good News for Buyers!

For the second year in a row, the Federal Housing Finance Agency announced it will increase the maximum loan limit for Fannie Mae and Freddie Mac mortgages. The two government agencies will raise the maximum-size loan they can guarantee on a single-family home or condo by 6.8 percent, which almost directly mirrors the recent nationwide increase in home prices. For example, loan limits in lower average priced counties are set to jump from the mid $420k’s to the mid $450k’s, while limits in higher priced counties will see increases from the mid $630k’s to almost $680k. “Higher priced counties” will include places like Santa Barbara and the San Francisco Bay Area. This modest increase in lo

1436 State Street, Santa Barbara  CA 93101

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All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdraw without notice. This is not intended to solicit property already listed.​

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