It's no question home prices have gone up year over year in double digits during the historical COVID-19 Pandemic. And this means the federal government needs to adjust affordability indexes and limits to keep the economy moving. That is why starting September 1st, you are now eligible to get a conventional conforming loan amount up to $ 715,000.00 – In 2021, this limit was $ 647,250.00. This is a $ 67,000.00 increase in home that you can now purchase with as little as 3% down payment.
This is a HUGE win for new family formations looking to get into better school districts, better towns, better lifestyle areas of your respective city. If you want to know more, please reach out to us. We have a vast amount of information and analytics at your disposal to make the best decision when buying your first, second, or 5th home.