Possible Loan Limit Reductions

Dated: 10/25/2013

Views: 9719

 There has been chatter that Fannie and Freddie will be required to reduce their maximum loan amount in the near future and this is the latest.

 The FHFA announced that Fannie/Freddie loan limits will NOT be reduced for at least six months and any such reduction will occur after a six-month prior notice. Good - one less thing to worry about.

 This is important information for both buyers and sellers. The current conforming loan limit for a single family home is 417,000.00 the jumbo/super conforming loan limit is 625,500.00. There has been no indication how much the limits will be reduced. But when these reduction come it will make it much more difficult to obtain financing for higher priced homes which in my opinion will have greater affect on sellers that buyers.

Blog author image

Jim Mazzerina

ABR, CRS, E-Pro, RSPS, SFR, SRES Jim is a “Jersey boy” originally from north Jersey in the Totowa, Little Falls area. He made the move to Stafford about 30 years ago, after finding the perfect....

Latest Blog Posts

Winter Olympics Wrapping Up March Around The Corner

The Winter Olympics in Pyeongchang are starting to wrap up. A few more days and the cauldron will be extinguished. The next Olympics will also be in Asia, specifically Tokyo, Japan in 2020. Those

Read More

New Curbing Requirements In Long Beach Twp NJ On Long Beach Island

New Curbing Requirements in Long Beach Twp NJ on Long Beach Island Curbing Requirements in Long Beach Twp NJ LBI NJ Real EstateA new ordinance was just announced that will have an impact

Read More

Staging Your Home With Children And Pets

Are you thinking of selling your home?  here are some helpful tips if you have children and pets.http://blog.jamesmazzerinaauthor.com/article/dealing-with-animals-or-children-when-staging/Jim

Read More


Moving can be a stressful time in anyone's life, from planning, to packing to the actual move.   Click on the list below for some helpful tips on how to make Moving Day less 

Read More