Exciting News from Fannie Mae. If you’re an investor you can now get more cash out on higher priced units at the lowest rate! If you’re a Realtor and you need a client pre-approved, call me ASAP at 310.218.6855
Loan Limits to Increase in 2018
Fannie Mae has issued Lender Letter LL-2017-10 to confirm the general and high-cost area loan limits announced by the Federal Housing Finance Agency (FHFA). The new loan limit in most of the country will be $453,100, which represents a 6.8 percent increase over the 2017 limit. All but 71 counties (or county equivalents) will see a loan limit increase.
The new limits are effective for whole loans delivered to Fannie Mae and loans in MBS pools with issue dates on or after Jan. 1, 2018. Detailed information and updated resources, including the Loan Limit Look-Up Table, are available on the Loan Limits page. For best practices on committing or pooling loans that fall between the old and new loan limits, call the Capital Markets Sales Desk at 800-752-0257.
System Updates for 2018 Loan Limits: The updated loan limits will be implemented in Desktop Underwriter® (DU®) and Pricing & Execution – Whole Loan® the weekend of Dec. 9, 2017. The following Fannie Mae applications and tools will be updated as of Jan. 1, 2018 to reflect the 2018 loan limits: Loan Delivery and EarlyCheck™.