Fannie Mae & Freddie Mac Mortgage Loan Limits are increasing approximately 7% effective Jan. 1, 2018. The new loan limit is $453,100, up from $424,100. FHA pegs their loan limits to Fannie & Freddie's loan limits. Any mortgage above those limits are considered jumbo loans and normally carry a higher interest rate than the conforming loan rates. So if you're considering buying a home, you're now able to obtain a larger mortgage without paying the higher interest rate for a jumbo loan.
Lawrence Yun, chief economist for the National Association of Realtors (NAR), predicts that mortgage interest rates will start increasing in 2018.
As always, when making decisions about tax planning, consult your tax adviser or an accountant. For more information, click on the "Read More" button at the bottom of this page.
Whenever you are ready, here’s some ways that I can help with your real estate goals:
1) Free Access to search the Denver MLS for all homes currently on the market: Denver Home Finder Service Property Search
2) Join me for a home tour - Home tours are Monday thru Saturday at 2:00 pm or 6:00 pm - choose your tour here
3) Request a specific search that sends all the homes that meet your parameters as soon as they come on the market - that way you can beat others to the best homes. Send me an email with "specific search" in the subject line and your wish list - Price range, school district, style, minimum number of bedrooms, etc. - Vickie@DreamsCanHappen.com
4) Receive a Home Loan Report –There are so many different loan programs. Do you need 20% down payment to purchase a home? Are there special programs for first time home buyers? What does CHFA mean? What's the difference between a FHA loan and a Conventional loan? Send me an email - - Vickie@DreamsCanHappen.com with "Home Loan Report" in subject field and I'll send it right over.
Also….check these out??
Denver Home Finder Service
Denver Home Seller Service