New Conventional Conforming Loan Limit in Florida Raised to $484,350 and FHA Loan Limit is Now Up to $314,827 for 2019.
New Conforming Loan Limits in Florida for 2019
The economy is going well. It is in a very healthy spot. Tampa is not alone. Tampa's market is booming. The real estate market has been going up since 2008 and has made Tampa one of the top markets and economies. Not only for real estate, but for business, jobs, families, and lifestyle.
As prices have been increasing back in 2017 where the conventional loan limit was $424,100 which caused the limit to raise to $453,100. Now as we look toward 2019 they are raising the new conventional conforming loan limit in Florida to $484,350.
FHA and High Balance "mini-jumbo" loans are not left alone. FHA loans have increased to $314,827 for 2019. High balance loans have also raised up to $726,525!
What does this mean for Florida / Tampa Homebuyers — For You?
Well, it's good!
Starting today, Florida and Tampa homebuyers can begin to take advantage of this increase.
This allows you to purchase higher! FHA loans. now in the 300's, conventional loans now near the 500's, and high balance loans are now in the 700's. This gives you more purchasing power without the need for a jumbo loan and at a lower interest rate.
The Federal Housing Finance Agency (FHFA) wants to give you and other home buyers more purchasing power.
You don't have to wait for the New Year, you can buy your new home now!
You deserve a present before the Holidays!
Treat yourself to a new home! Enjoy the low rates and new loan limits
Should you buy now or wait?
With the current market, interest rate and prices — Is right now the best time to buy?