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New 2019 Conventional, FHA, & VA Loan Limits

Conventional Fannie Mae & Freddie Mac, FHA, VA Loan Limits Increase starting now:

The Fannie Mae and Freddie Mac Conventional Loan Limits have increased for 2019: Boulder County is now $484,350, with High Balance Conventional up to $626,750. These loan amounts are available for application dates starting now, in December 2018!

Getting a Fannie Mae or Freddie Mac Conventional Conforming loan, practically speaking, means that you will get the lowest fixed rate mortgage available in the mortgage market. Because conventional conforming loans are “backed” by Fannie Mae or Fredide Mac mortage investors are willing to invest in these at a lower rate than other “more risky” investments; thus a portion of that lower rate gets passed onto the borrower.

Also if you have a jumbo mortgage, because of these loan limit increases, now may be a good time to look into an interest rate reduction refinance. Jumbo loan fixed interest rates are typically higher than conventional conforming rates. So if your current jumbo balance is in the low $600k’s or less now is a good time for a “mortgage check up”.  Please call me for a free consultation. I am glad to review and assess your current mortgage to see if it makes financial sense to refinance.

These Fannie and Freddie loan amount increases are also beneficial for purchase loans. Since home prices have been increasing pretty much nationwide these past few years, higher conventional loan limits help Borrowers get the best interest rates on purchase loans.

If an FHA or VA loan is the best option, then no worries. These loan limit increases generally apply for FHA and VA loan limits too!

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