LOAN HAS THE LIMIT
According to the National Association of Realtors, as of 2023, two government owned agencies, Fannie Mae and Freddie Mac, were responsible for 70 percent of the mortgage market. Both have very specific underwriting guidance but are slightly different.
Loans are purchased from banks and mortgage lenders. Many of these organizations are getting their business from mortgage brokers, like our company. Every year these entities together with FHA and VA set new loan limits. Usually, new loans are funded after January 1st.
Follow this link to look at some conforming loan limits in 2024 vs 2025. Just for the sake of comparison, in 1983, when I became a mortgage broker, the confirming limit was $108,300. Two years later, in 1985, when we started Pacific Bay Financial Corporation, it went up to $115,300. Things do change. You should also keep in mind that loan limits might vary in different US states and counties.
To learn more about confirming loans, call me at my cell number below.
I promise to help!
Manny Kagan,
President,
Pacific Bay Financial Corporation
Cell: (415) 225-7920
Email: [email protected]
NMLS #205637
DRE #00874630