Hey folks, happy holidays. Hope everyone is doing well. I have some good news for you that I wanted to share. They just released the new loan limits for 2025.
What are they? How does this affect you? Let’s let’s find out.
So, they went up about 5.2% and the new conventional loan limit is 806 500 806 thousand five hundred or less is now a a regular customer.
Conforming loan. It used to be, uh, well here in 2024, it was 766 550. So it’s gone up 5.2%.
What does that mean? How does it affect you?
Simple. One can now buy a new home. If you have an existing home or you’re not a first-time home buyer, you can buy a new home for 849 grand and put down just 5% and be at the new conforming limit of, 806 500 or likewise, for all the high-rollers out there, you can buy a new place for a million dollars now and put the normal 20% down and land on this, 806 5, you know, put 20% down.
It’s just over a million, but you can buy a house for a million bucks, but 20% down and, get just a normal conforming loan and a little good news on the, interest rate front as well.
Rates are down now to the mid-sixes or so as we’re recording this, hopefully, they continue to trend downward as we get through.
At the end of the month, get through the holidays and of course, the new political year that’s coming at us.
So anyway, it’s kind of exciting. It’s better than bad news, right? So have a great holiday. If you have any questions on this or anything else, please reach out, and talk to you soon.
Thanks for watching.
