Stearns Offers New Conforming Limits Effective Immediately

Great news! The Federal Housing Finance Agency (FHFA) announced Tuesday that it is increasing the conforming and high-cost area limits for Fannie Mae and Freddie Mac in the majority of the U.S.*

According to the FHFA's third quarter 2018 House Price Index report, home prices increased 6.9% on average between the third quarter of 2017 and 2018. With home prices on the rise, the new confoming loan limits are increasing for 2019, which is great news for borrowers. 

No need to wait until January, though. Stearns will honor the new loan limits immediately. Below are the changes taking place. 
Your county may offer different limites from the above. Click here to see the 2019 conforming loan limits for your county.

*maximum will vary by county
- By Stephanie Clark, Nov 28, 2018