Conventional loan limit increased in 2022
Conventional loan limit increased in 2022!
Just want to let you know the conventional loan limit has recently been increased. It was roughly $640,000 or $645,000 and it is increasing for 2023 to $715,000 which means that in order to use a standard qualified mortgage with a conventional loan, the max loan amount is going to be $715, 000 starting in 2023 but a lot of lenders in anticipation of that change are already allowing you to use that as your new loan limit. So just wanted to let you know if you were previously looking to max out the conventional and the 640ish is now most likely up to 7 15. I just wanted to pass that information along to you.
What does this mean to you? If you're even a little bit interested in learning more about participating in the Phoenix housing market as a seller, buyer, or investor... you NEED to know this stuff! Or at least work with someone who is obsessed with the market stats. Reach out to me today so we can start working on making your real estate dreams a reality!