Loan limits have gone up for conforming, FHA, and VA loans here in Colorado Springs.
Here’s what you need to know.
There has been a lot of discussion about the new loan limits that were recently announced for conforming, FHA, and VA loans. I want to break through all of the noise and let you know what that means for us in Colorado Springs.
The new loan limits for our county are $510,400 for conventional loans, $356,500 for FHA loans, and $1,200,000 for VA loans. Those are up by 5.3%, 5%, and 247%, respectively. Not all lenders will offer that $1,200,000 VA loan, but it means that the VA is allowing it.
If you have any questions about this or any other real estate topic, don’t hesitate to give me a call. I’d be happy to speak with you.