Extra! Extra! Fairway Wholesale Lending just announced the NEW conventional loan limits! You read correctly; the estimated maximum conforming limit is now $625,000. $75,000 over the original $548,250 conforming limit! Any areas previously limited to the original limit can take full advantage of these high-balance loan amounts. Hawaii and Alaska offer even higher loan amounts for available 2-4 units. (Increased loan limit from $822,375 to $935,000)
What does this mean for you and your clients?
Your borrowers can now put as little as 5% or even 3% down (as first-time homebuyers) on loan amounts up to $625,000. Combine that with today’s extremely low conventional pricing; you have yourself an extremely confident buyer.
Don’t wait until new loan limits get announced — give power to your borrowers TODAY! We will be abiding by these 2022 loan limits immediately!
Contact your Regional Account Executive to learn more.