Mortgage News

2019 Conforming Loan Limits for all the Counties in Washington

Conforming and High Balance loan limits for most Washington state (WA) counties went up for 2019. Base conforming loan limit went up to $484,350 and the High Balance loan limit went up to $726,525. See below the list of all counties in Washington with 2019 loan limits for 1, 2, 3, and 4 Unit properties. ADAMS COUNTY  • 1 Unit - $484,350 • 2 Unit - $620,200 • 3 Unit - $749,650 • 4 Unit - $931,600 ASOTIN  COUNTY  • 1 Unit - $484,350 • 2 Unit - $620,200 • 3 Unit -…
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2019 Conforming Loan Limits for all the Counties in New York

Conforming and High Balance loan limits for most New York (NY) counties went up for 2019. Base conforming loan limit went up to $484,350 and the High Balance loan limit went up to $726,525. See below the list of all counties in New York with 2019 loan limits for 1, 2, 3, and 4 Unit properties. ALBANY COUNTY  • 1 Unit - $484,350 • 2 Unit - $620,200 • 3 Unit - $749,650 • 4 Unit - $931,600 ALLEGANY COUNTY  • 1 Unit - $484,350 • 2 Unit - $620,200 • 3 Unit…
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2019 Conforming Loan Limits for all the Counties in Texas

Conforming and High Balance loan limits for all Texas (TX) counties went up for 2019. Base conforming loan limit went up to $484,350. See below the list of all counties in Texas with 2019 loan limits for 1, 2, 3, and 4 Unit properties. ANDERSON COUNTY  • 1 Unit - $484,350 • 2 Unit - $620,200 • 3 Unit - $749,650 • 4 Unit - $931,600 ANDREWS COUNTY • 1 Unit - $484,350 • 2 Unit - $620,200 • 3 Unit - $749,650 • 4 Unit - $931,600 ANGELINA COUNTY  • 1 Unit - $484,350…
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2019 Conforming Loan Limits for all the Counties in New Jersey

Conforming and High Balance loan limits for most New Jersey (NJ) counties went up for 2019. Base conforming loan limit went up to $484,350 and the High Balance loan limit went up to $726,525. See below the list of all counties in New Jersey with 2019 loan limits for 1, 2, 3, and 4 Unit properties. ATLANTIC COUNTY  • 1 Unit - $484,350 • 2 Unit - $620,200 • 3 Unit - $749,650 • 4 Unit - $931,600 BERGEN COUNTY  • 1 Unit - $726,525 • 2 Unit -$930,300 • 3 Unit -$1,124,475…
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2019 Conforming Loan Limits for all the Counties in California

Conforming and High Balance loan limits for most California counties went up for 2019. Base conforming loan limit went up to $484,350 and the High Balance loan limit went up to $726,525. See below the list of all counties in California with 2019 loan limits for 1, 2, 3, and 4 Unit properties. Alameda County: 1 Unit - $726,525 2 Unit -$930,300 3 Unit -$1,124,475 4 Unit - $1,397,400 Alpine County: 1 Unit - $484,350 2 Unit - $620,200 3 Unit -  $749,650 4 Unit - $931,600 Amador County: 1 Unit - $484,350…
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Say Hello to a New Kind of Credit Score – UltraFICO

Experian, FICO, and Finicity are developing an "UltraFICO" score to improve access to financial products for borrowers with low credit score or short credit histories. This will be achieved by letting the borrowers share checkings and savings account data to help lenders better assess risk. Why an "UltraFICO" Score? After all, what is wrong with a FICO score (without the ultra)!! "This changes the whole dynamic of the lender and customer relationship," said Jim Wehmann, executive vice president, Scores, at FICO.  "It empowers consumers to have greater control over the information that is being…
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New FHA Loan Limits for 2018; Limits to increase in >3,000 counties

The Federal Housing Administration (FHA) recently announced the agency's new schedule of loan limits for 2018, with most areas in the country to experience an increase in loan limits in 2018. In fact,  3011 counties in the country will see an increase in loan limits for 2018, while 223 counties will see no change (compared to 2017). In high-cost areas of the country, FHA's loan limit ceiling will increase to $679,650 from $636,150. FHA will also increase its floor to $294,515 from $275,665. Low-Cost Area: The FHA national low-cost area mortgage limits, which…
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5 Ways the “Tax Cuts and Jobs Act” will Impact Housing and Mortgages

At the time of publishing this, the President hasn't yet signed the bill. But, it's as good as a law and we fully understand all the provisions now. National Association of Realtors (NAR) had this to say about the bill's impact on housing "As a result of the changes made throughout the legislative process, NAR is now projecting slower growth in home prices of 1-3% in 2018 as low inventories continue to spur price gains. However, some local markets, particularly in high cost, higher tax areas, will likely see price declines as a…
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Republican Tax Plan Has Huge Implications for Housing

Republican lawmakers unveiled the tax reform bill this morning and it doesn't augur well for housing. (** After the bill was passed, I wrote an updated version of this post. Please refer to that by clicking here - https://www.mortgageblog.com/5-ways-the-tax-cuts-and-jobs-act-will-impact-housing-and-mortgages/) The National Association of Realtors came out swinging against the bill, suggesting a huge fight awaits over how real estate is treated. “Eliminating or nullifying the tax incentives for homeownership puts home values and middle-class homeowners at risk, and from a cursory examination this legislation appears to do just that,” said William E. Brown, president…
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