2018 Conforming (a.k.a Conventional) loan limits have been announced! Looking good for the Denver metro area, better than expected. Nationally that will be at $453,100 (up from $424,100) and in Colorado (drumroll please) we will see Denver & major metro at $529K (high balance loan limit)! For other counties in Colorado, we are looking at: El Paso ($453,100), Boulder ($578,450), Summit County ($625,500) just to name a few. Look up other counties here.
We expect FHA, VA, and USDA to follow suit but will await them to release their loan limits for 2018 and will keep you informed when that happens.
This definitely helps so we are not necessarily needing to jump into a jumbo loan. This is a much-needed increase since our market has been increasing.
If you have any questions or would like to learn more about conforming loan limits, please give us a call.
Ray & Mortgage Maestro Group