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Conventional Loan Limits 2017

Conventional Loan Limits 2017

The wait is over Denver and Colorado. We have been asked numerous times in the last 30 days. It looks like conventional loan limits 2017 will be up nationwide which will show additional signs of a strengthening housing market. The national conforming loan limits for 2017 will be $424,100 (up slightly from $417,000).

Drum roll please…..

The FHFA announced the 2017 Conventional Loan Limits, effective Jan 1, 2017.

With respect to Denver and the surrounding counties (Arapahoe, Douglas, Jefferson, Adams, Broomfield) there is more good news. Those loan limits for 1-Unit properties has been increased for the 3rd straight year (now $493.350). Boulder County ($529,000), El Paso ($424,100), Routt County, Summit County, Lake County ($625,500), Pitkin & Eagle County($636,150). Any county in Colorado considered High-Cost will have a higher loan limit like you see for the aforementioned counties. Any mortgage above these new 2017 conventional loan limits will fall under jumbo mortgages.

Number of UnitsMaximum base conforming loan limits for properties NOT in Alaska, Hawaii, Guam & U.S. Virgin IslandsMaximum base conforming loan limits for properties in Alaska, Hawaii, Guam & U.S. Virgin Islands
2017201620172016
1$424,100$417,000$636,150$625,500
2$543,000$533,850$814,500$800,775
3$656,350$645,300$984,525$967,950
4$815,650$801,950 $1,223,475$1,202,925

For super conforming mortgages secured by properties located in designated high-cost areas, we will purchase mortgages with original loan amounts up to the following limits:

Number of UnitsMaximum base conforming loan limits for properties NOT in Alaska, Hawaii, Guam & U.S. Virgin IslandsMaximum base conforming loan limits for properties in Alaska, Hawaii, Guam & U.S. Virgin Islands
2017201620172016
1$636,150$625,500$954,225$938,250
2$814,500$800,775$1,221,750$1,201,150
3$984,525$967,950$1,476,775$1,451,925
4$1,223,475$1,202,925$1,835,200$1,804,375

If you have further questions about your county and don’t see information here, feel free to reach out to us. You can also read more here: 2017 Loan Limits

 

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Licensed in Colorado as Maestro LLC (DBA Mortgage Maestro Group) is an Equal Housing Lender.

387 N Corona St #646, Denver, CO 80218.

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Consumers wishing to file a complaint against a company or a residential Mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the Department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.

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