Conforming and FHA Higher Loan Limits MAY be Returning

October 21, 2011 by 1 Comment

The Senate has passed an amendment that will bring the temporary loan limits back through December 31, 2013!  In the Seattle/King County area, this means that the FHA and conforming high balance loan limit would increase from $506,000 to $567,500.

This still needs to pass the House.

It's like deja vue all over again! Congress yo-yo'd the loan limits a few years ago between the high balance and temporary high balance loan amounts.  Should Congress pass this and restore the higher loan limits, it may take banks some time to adjust to the changes. 

Stay tuned!

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Filed Under: Mortgage Programs
About Rhonda Porter

Rhonda Porter (NMLS 121324) is a veteran Washington Mortgage Advisor with over 25 years of experience navigating the Pacific Northwest real estate market. Specializing in residential home financing and mortgage strategy, Rhonda founded The Mortgage Porter to provide homeowners with transparent, data-driven clarity. Based in Seattle, she is a trusted resource for first-time buyers, self-employed borrowers and homeowners across Washington State, dedicated to turning complex financing into a confident path to homeownership.

Comments

  1. Rhonda Porter says
    October 27, 2011 at 8:02 am

    Looks like the House is putting the ka-bosh on higher loan limits… you may want to contact your elected officials in Congress if this is impacting you.

    Reply

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