One of the biggest hurdles that first time homebuyers face is saving up for a…
Home 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 the new home loan limits mean 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.