Your new home - cheaper! New Loan limits for 2018!

Are you looking for a home in the 700-800k range? This is for you…. the Federal Housing Finance Agency (FHFA) Announced new conforming loan limits for 2018.

What does this mean?

Basically that you can borrow a little more money than before with ease. Previously the loan limit for Orange County was $636,150 the new limit is $679,650.  Read the FHFA Release here.

**Now is a good time for my disclaimer. This is not legal or financial advice. I am not a licensed loan officer, you should always consult the appropriate licensed and insured professional before entering into any binding agreement. **

Basically before the law change if you had qualified for a Fannie or Freddie loan you could buy a home in Orange County for as much as $795,000 now you can potentially buy a home up to $849,000. (Subject to income qualification and a number of other factors. ) This opens up a previously tricky price range and gives you more options and finacial flexibility when it comes time to write an offer.

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