Federal Housing Finance Agency Increased Mortgage Loan Limits for 2024

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Hello, this is Keith Renno. Welcome. Welcome back to the channel, wherever you are viewing this video. We’d like to discuss the announcement today. Today being November 28th by the Federal Housing Finance Agency. They are, again, increasing the available loan limits across the us come 2024 across the US and in many other counties, they are increasing these loan limits by roughly 5%, give or take your area. So what does this mean? What does it do? This helps keep up with the increase that we have seen in home prices and that the Federal Housing Finance Agency, really the government agency that is backing our real estate market here in the us, they are of opinion that home prices will continue to appreciate. So they’re getting ahead of this. They’re increasing these loan amounts for, again, the year 2024. So if you’re thinking home prices might be going down, this agency puts a lot of research.

They have a lot of very smart individuals, really studying the housing economy, studying the economy in general, and then increasing these loan limits in most areas really nationwide by at least 5%. It really supports their anticipation that home prices will continue to appreciate by 5% here this next year. So if you haven’t looked into loan options, think about revisiting what’s available, what’s out there in today’s market. There’s been many changes. Lots of new programs have become available here in 2023. So reach out, ask questions, talk to someone you know, like and trust. But this increase will help more individuals be able to get into homes with lower down payment, help qualify them for the standard, conventional great 30 year fixed products that are out there at these higher price points. Again, reach out with any questions and thanks for spending a minute with me here today. Take care.