Williamsville, NY (November 30, 2017) -1st Priority Mortgage, Inc., a Howard Hanna Company, is pleased to announce that we are increasing our conforming loan limits to $453,100 beginning in January of 2018. Conforming loan limits are set by the Federal Housing Finance Agency (FHFA) each year and establish the limit to which the Federal National Mortgage Association (FNMA) and the Federal Home Loan Mortgage Corporation (FHLMC) can guarantee loans. For comparison purposes, the limit in 2017 was $424,100. The new limit for 2018 will be $453,100. The $29,000 increase is the largest single increase in many, many years. From 2006 to 2016 the limit remained steady at $417,000 before increasing slightly to $424,100 in 2017.
The higher loan limit will offer 1st Priority Mortgage greater flexibility on mortgages up to $453,100. Having the FNMA/FHLMC guarantee opens a wider spectrum of possibilities for an increased number of borrowers and their mortgage financing.
To learn more, contact a 1st Priority Mortgage Consultant today!
We understand that the homebuying process can be a little overwhelming. The HannaFinancial companies make the closing process simple. Serving eight states, we strive to meet your needs at the lowest cost through the efforts of our dedicated teams. Our home buying expertise and full-service capabilities make your transaction as efficient as possible. HannaFinancial is proud to bring you the Howard Hanna One-Stop Shopping experience. Learn more about 1st Priority Mortgage today!
Howard Hanna Real Estate Services is the 3rd largest real estate company in America, the #1 privately owned broker in the nation, and the largest home seller in Pennsylvania, Ohio, and New York. The family-owned and operated real estate company specializes in residential and commercial brokerage service, mortgages, closing and title insurance, land development, appraisal services, insurance services, corporate relocation, and property management. With 259 offices across PA, OH, NY, MI, VA, WV, NC, and MD, our more than 9,000 sales associates and staff are guided by a spirit of integrity in all aspects of the real estate process.
NMLS# 29600. Contact 1st Priority Mortgage, Inc. for mortgage products and eligibility. 1st Priority Mortgage, Inc. is a Licensed Mortgage Banker, New York State Department of Financial Services. All lending products are subject to credit and property approval. Terms, conditions, and certain restrictions may apply on all programs. Interest rate and program terms are subject to change without notice. This is not a commitment to lend. Contact a 1st Priority Mortgage Consultant for full details. (888) 500-9733.