New Higher Loan Limits for Homebuyers in the New Year
The Federal Housing Finance Agency (FHFA) recently announced that it will raise loan limits for mortgages backed by Fannie Mae and Freddie Mac, giving some homebuyers greater purchasing power. Starting in 2025, the maximum conforming loan limit for single-unit properties will increase to $806,500 – a 5.2 % increase from the current limit of $766,550. The announcement is...