Mortgage Monday: Revised Loan Amounts

Revised Loan Amounts.

Fannie Mae, Freddie Mac, FHA and the VA have announced revised loan amounts for those looking for a higher loan amount. Fannie Mae and Freddie Mac have revised their loan amounts upward to $567,500. FHA’s new limit is also $567,500. While the VA has revised theirs upward to only $500,000.

These new revisions should open a segment of the market that was previously not open to home buyers who wished to have a larger loan. 30 year fixed rate for these higher loans is currently at 4.15%. Check with your lender for the rate that they can offer you.

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