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Home > Conventional Loan Limits Increase in 2017

Conventional Loan Limits Increase in 2017

November 23, 2016 by Admin 1 Comment

Announced: Wednesday, November 23, 2016

Starting in 2017 for the first time since 2006, the Federal Housing Finance Agency is increasing the maximum loan limits for “conventional” mortgages across the country. One-unit properties will increase their loan limits from $417,000 to $424,100 making this loan product available to more purchasers. This increase represents a 1.7% increase over the previous limit from the start of the housing crisis in 2006 to the end of this year. High price markets such as Lincoln Park, Wicker Park, Logan Square, Old Town, Gold Coast and River North and others will be the Chicago neighborhoods most greatly affected by this increased loan level allowance. 

Filed Under: Home Buying Tips, Real Estate News

Comments

  1. Jimmy Rey says

    March 7, 2017 at 5:52 am

    Very well explained. I really appreciate the insight here in this post and wanted to say thank you for sharing it.

    Reply

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