Wondering about financing a new home in 2017? Good news! Home loan limits have increased in the new year for several areas across the country. That means more homes may qualify for a greater variety of loans—potentially offering you more ways to finance your dream home! While not all areas experienced increases, it’s certainly worth checking to see if your county got a boost. Here’s a breakdown of the recent changes by loan type.
Conventional loans
Conventional loan limits at many Richmond American communities saw increases ranging from $7,100 to $54,050, making more homes eligible for down payments as low as 3%! Learn whether a conventional loan is a good fit for you.
FHA loans
FHA loan limits at many Richmond American communities saw increases ranging from $2,300 to $54,050, making more homes eligible for down payments as low as 3.5%! Learn whether an FHA loan is a good fit for you.
VA loans
VA loan limits at many Richmond American communities saw increases ranging from $7,100 to $54,050, making more homes eligible for zero-down mortgages (for active military and veteran buyers and spouses)! Learn whether a VA loan is a good fit for you.
To explore more home loan types, check out our Simplified Guide to Mortgage Options. Or contact our affiliate, HomeAmerican Mortgage Corporation (HMC), to learn about current programs and how to qualify. Loan officers are available toll-free at 866.400.7126.
