Exciting news for the housing market! The Federal Housing Finance Agency (FHFA) has just announced the 2024 conforming loan limits. Starting November 29, EBLOCK LOANS is embracing these changes for Conventional and VA loans.
What's Changing: Loans is in process, not yet locked, can adapt to the new limits and still close this year. Here's a quick breakdown of the adjustments:
VA and One-Unit Conventional Loans: Increased to $766,550 from $726,200 (2023).
High-Cost Counties: Now at $1,149,825, up from $1,089,300 (2023).
2–4 Unit Conventional Loans: Updated limits apply.
Action Steps: Please reach out to us for additional information on these changes. Important Points:
VA Loan Limits: Full entitlement needed by January 1, 2024.
Pipeline Loans: Changes require a Change of Circumstance; appraisal waivers not applicable.
County Loan Limits: Above $766,550? No change.
Conclusion: Stay ahead in 2024 by leveraging these new limits. Whether you're a buyer or investor, EBLOCK LOANS is here to guide you through these updates for a seamless homeownership journey.
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