Nolan M. Booth Real Estate

Great news buyers, conforming Loan Limits jumped AGAIN! Heading into 2022 the new limit will increase to $647,200!

That’s a $98,950 increase from the start of 2021!! This additional increase will allow buyers to utilize conventional rates instead of jumbo rates! This is HUGE for our current market.

The mortgage rates are also still at a historic lows! Let me help you take advantage of these low rates, so you can keep your monthly payments low.

Here’s an example:

Today: Purchase Price $350,000 with an interest rate of 2.5% = $1382.00 monthly payment

If the market corrects and rates increase: Purchase Price $300,000 with an interest rate of 4.5% = $1520.00 monthly payment

Moral of the Story: Take advantage of the new limits and buy when the interest rates are still low! You can afford more and will pay less.