The Federal Housing Financing Agency has recently announced that the new conforming loan limit for 2023 is $726,200 for most areas for single-unit properties! This is an 11% increase from last years $647,200 loan limit. This will be the seventh year that the Federal Financing Agency increased the conforming loan limit.
Make your homeownership dreams a reality.
Take the first step and apply online with Park Square Home Mortgage.
Make your homeownership dreams a reality.
Borrowers looking to purchase a house in the coming year can now borrow almost $730k from a lender, making conventional loans more accessible.
This also means that homeowners whose loans were once considered “JUMBO,” or above the previous conforming loan limit, can now refinance their mortgage to obtain a lower rate and possibly even qualify to eliminate their mortgage insurance.
To read the Federal Housing Finance Agency’s announcement, click here.
Effective immediately, Park Square Home Mortgage Conventional Conforming products will be updated to align with the new conforming loan limits.
If you’re ready to own a home, visit our Mortgage Resources to learn more, or Contact Us today. We’re here to help you get started.
Questions about home buying?
Get in touch with one of our experienced Loan Officers.
Questions about
home buying?
Why Choose Park Square Home Mortgage?
Park Square Home Mortgage, LLC (“PSH Mortgage”) works directly with Park Square Homes for fast, reliable mortgage services. PSH Mortgage offers a wide array of competitive mortgage products with experience in every area of residential mortgage lending. We focus on providing our customers with industry best service and use cutting-edge technology to help you navigate through the lending process with ease.
Few things give you more pride than owning your own home – you will probably make no greater single investment in your lifetime. PSH Mortgage wants to help you make that dream come true. Contact us today and put our expertise to work for you! All information presented is for educational purposes only and not intended as financial advice.
Conforming Loan Limit Increase for 2023
The Federal Housing Financing Agency has recently announced that the new conforming loan limit for 2023.
Opt Out of Firm Offers of Credit or Insurance
Many buyers find that applying for a mortgage can trigger an influx of marketing from other companies trying to win their business. Fortunately, there are ways to prevent this flood of offers from overwhelming you during an already stressful time.
Navigating Your Loan Program Options With Park Square Home Mortgage
Choosing the right loan program depends on a variety of factors like certain loan program features, the loan term and your overall financial goals.
