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Increase in Loan Limits Increase Buying Power

By W. Todd Galde

I sent my letter to Santa a month or so ago and all I wanted for Christmas was an increase in the Loan Limits for 2018. Well, guess what. Santa Claus came through, and even before Christmas day!

That's right, the FHFA announced early this month that the traditional Conforming and the High Balance Conforming loan limits will be increasing for 2018. This is great news because it allows more buyers to qualify with the less restrictive guidelines from Fannie Mae, Freddie Mac, and even FHA, who adopted the new loan limits last week.

How does this affect YOU and your buyers, you ask?

Here is a good example of how the increase helps buyers in the counties of Contra Costa, Alameda, Marin, Napa, San Francisco, San Mateo, Santa Clara and Santa Cruz. all who adopted the new maximum High Balance limit increase from $636,150 to $679,650:

With the new loan limit of $679,650 and the minimum down payment requirement of 5%, a new home buyer could potentially qualify for a $715,421 home with only 5% down and no reserves!

This is not a commitment to lend. Subject to borrower qualification.

5% = $35,771 and the entire amount can be a GIFT from family.

The loan limits have increased in every county in California. If you would like to know the new limit in another county, just send me an email or call or text and I'll let you know exactly what it is.

This is great news for home buyers throughout the state of California and nationwide.


Todd Galde
(925) 381-8190