Think You Can’t Afford a Home? Think Again
Sola Plan 2 | Los Angeles | Pardee Homes
Tired of renting? Dreaming of owning a home of your own? Then you’ll want to know about this mortgage lending update for 2019. The Federal Housing Finance Agency (FHFA) has announced increased loan limits for 2019. The conforming loan limit has been increased from $453,100 to $484,350. The new VA loan limit for 2019 has been increased from $453,100 to $484,350. Keep reading for increased lending limits across our different Pardee Homes regions.
The high-cost area loan limit for Los Angeles County has been increased from $679,650 to $726,525.
The high-cost area loan limit for Riverside County has been increased from $405,950 to $431,250.
The high-cost area loan limit for San Diego County has been increased from $649,750 to $690,000.
The high-cost area loan limit for Clark County has been increased from $294,515 to $322,000.
According to The Mortgage Report, this is great news for many homebuyers and borrowers. What does this mean for you? It means you may be able to afford a home you may not have been able to afford before.
The FHA loan program is managed by the U.S. Department of Housing and Urban Development (HUD), which exists to provide housing and community development assistance and make sure everyone has access to “fair and equal” housing. The HUD Guidelines are full of useful information for homebuyers and mortgage shoppers; the guidelines have been broken down into easy-to-read sections here.
Looking for more information on the new FHFA guidelines and regulations? Click here.
To learn more about how these new lending limits could help you move into the home of your dreams, connect with one of our New Home Specialists. We’re happy to help answer any questions you may have.