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New Conforming Loan Limit for 2018

Tuesday Dec 12, 2017
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In early December 2017, Fannie Mae and Freddie Mac, government sponsored enterprises responsible for keeping the residential mortgage market stable, made a huge announcement. Starting in January of 2018, conforming loan limits on conventional mortgages will increase from $423,100 to $453,100. What does this mean for buyers? Indigo Mortgage is here to explain:

Now that the conforming loan limit has increased, borrowers can take out a loan up to $453,100 before having to take out a jumbo loan. Jumbo loans generally have higher interest rates, and unlike conforming loans, they aren’t backed by federal agencies. Because they aren’t backed by Fannie Mae and Freddie Mac, lenders take on higher risk when they offer jumbo loans, thus they are more difficult to qualify for.

Indigo Mortgage is proud to announce that we have arranged a special agreement with one of our lenders and we are able to honor the new loan limits beginning in December 2017! From now, on until the end of the month and into the new year, you can apply for a conforming loan up to the new limit of $453,100. Get a jump start on the new loan limits with Indigo Mortgage! Visit us to learn more about how you can find the best rates and terms on your mortgage!

Indigo Mortgage is a locally owned and operated company, serving homebuyers in Albuquerque, Rio Rancho, Santa Fe and all across New Mexico. For questions about selecting a mortgage lender, contact Indigo Mortgage in Albuquerque at (505) 836-5700. Indigo Mortgage offers five mortgage divisions including Residential, VA Loans, Reverse Mortgages, Construction and Commercial. They are licensed by the Nationwide Mortgage Licensing System (NMLS #188348), and can provide loans anywhere in New Mexico.

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