14/01/2024
There have been significant loan amount increases for all loan types!
In the world of real estate, the ability to access substantial mortgage loan amounts plays a pivotal role in shaping the dreams of aspiring homeowners. These loan amount increases offer a multitude of advantages, empowering individuals and families to move closer to their homeownership goals while securing numerous benefits.
The increased Conventional Conforming loan amount enables many buyers to qualify who would otherwise not meet eligibility requirements for a Jumbo loan product. Conventional Conforming loans permit a lower down payment compared to a Jumbo loan, allow for a higher ratio than a Jumbo loan, and do not require 6 months of reserves of the monthly payment, as Jumbo loans do.
2024 Loan Amounts
Metro Brokers Financial, Inc. began offering a $766,000 loan amount last year in anticipation of the final increase. We now have updated amounts for all loan types!
Conventional Conforming: $766,550 – up from $726,200 in 2023
VA Conforming: $1,000,000
FHA: 1 unit is now $649,750 (29 county MSA for Atlanta Metro) – up from $592,250 in 2023
These loan amounts significantly amplify a homebuyer's purchasing power. It allows them to consider a broader range of properties that better align with their preferences, whether it’s a larger space, a better location, or additional amenities. This expanded financial capacity opens doors to a wider array of housing options, offering homebuyers greater flexibility and the opportunity to find their dream home.
For more information, contact your favorite Metro Brokers Realtor®
Ebony Moore-Hutton, Realtor® (Veteran)
Coldwell Banker Commercial Metro Brokers
GA # 426836
5775-D Glenridge Dr. 1st Floor Atlanta GA 30328
678.320.4800 Office
770.913.3778 Direct Line
770.489.5386 Fax
404.844.7315 Text
[email protected]
https://ebony-moore-hutton.sites.bhgrealestate.com/
http://eamhutton.cbcmetrobrokers.com
EBONY MOORE-HUTTON SELLING COMMERCIAL IN ATLANTA About Me As a commercial specialist at Coldwell Banker Commercial Metro Brokers, I offer comprehensive assistance to clients seeking commercial properties for buying, selling, or leasing. Throughout the entire process, I prioritize meeting your needs....