Conforming loan limits rise!
New conforming loan amounts rise and are live today!
Conforming loan amounts rise for 2024 and they went up more than expected! Now, if necessary, a purchaser or refinancer, can borrow up to $766,550 on a single family residence and still remain below Jumbo loan status! 2-units have been raised to $981,500, 3-units $1,186,350 and 4-units are now $1,474,400. In high cost areas, the (Hi balance, or Super conforming) limits can go up to $1,149,825! Make sure you call Mitchell Mortgage to find out if your county is in the upper range or just the standard conforming limit. Although these loans can not be submitted to Fannie Mae and Freddie Mac at this time, lenders are getting a jump on the news and taking loans now that they will keep and then deliver after the first of the year. That means there is no waiting to take advantage of the new conforming loan amounts rise! Call Michael Mitchell at 530-406-2200, 707-259-1117 or 707-337-5970 Cell. We will answer all your questions and get started on that new loan today!
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