On Tuesday, The Federal Housing Finance Agency (FHFA) announced an increase in maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2018.
The FHFA stated that loan limits will be raised to reflect the change in U.S. home prices. The press release distributed by the agency states:
“According to FHFA’s seasonally adjusted, expanded-data HPI, house prices increased 6.8 percent, on average, between the third quarters of 2016 and 2017. Therefore, the baseline maximum conforming loan limit in 2018 will increase by the same percentage.” – Federal Housing Finance Agency
This is the second straight year that limits have increased. Throughout most of the United States, the 2018 maximum conforming loan limit for one-unit properties will be $453,100, an increase from $424,100 in 2017. Designated High-Cost areas will also see a loan limit increase.
To learn more about loan limits in your area and what they mean for you, contact a Marketplace Home Mortgage Loan Officer today.
To read the full press release visit: http://bit.ly/LoanLimits2018
At Marketplace Home Mortgage, we’re continuing to grow our footprint and are currently expanding service in the state of Massachusetts and the New England real estate market.
Marketplace Home Mortgage loan officers are already helping area real estate agents and home buyers meet their goals of achieving home ownership and we have now tapped industry professional Rick Schlager to lead our efforts in the Bay State.
“I joined Marketplace because no other company offers New England the technological edge we can,” Schlager said. “As a service-oriented loan originator, I know that kind of convenience is going to thrill the Massachusetts market by combining the great tools Marketplace utilizes with the focus of producing outstanding customer service.”
Presently, Marketplace has offices in Bedford and New Hampshire, with plans to open a second New Hampshire location in Portsmouth in the fourth quarter.
“We see New England as a major growth focus for the Marketplace team,” says Eastern Division Manager Michael Wesson. “With the overwhelming response our efforts have received, we plan to hire more than a dozen new loan officers and support staff within the next year.”
The New England team will continue building its reputation for quick, dependable mortgage service in the coming months. In addition, we will build the infrastructure – such as fully local underwriting and processing – to ensure that Marketplace can continue to provide outstanding service and results to consumers and referral partners in the New England real estate market.
“It’s no surprise that Rick has a laser focus on achieving high levels of customer service,” said Marketplace CEO Keith White. “That sincere, tangible connection to home buyers and Realtors is what makes our company stand out.”
We are proud to share that Marketplace Home Mortgage was voted Best Mortgage Company in this year’s TC Business Reader Poll.
Each year, TC Business Magazine works with DataJoe Research to accumulate votes for their “Best of Business” Awards. Through the process, they survey thousands of professionals to determine which companies exemplify excellence in their respective industries.
We are honored to be recognized. Thank you to all of the clients and industry peers who voted for us. Our mission is to provide our customers with the best possible mortgage experience, and we are so proud to know that you are experiencing the excellence we always strive for.
Thank you for your business. It is truly an honor to serve you.
As always, contact us with any questions or concerns.
Marketplace Home Mortgage, L.L.C. is excited to be adding to our product line as we launch our new Commercial Lending Division. With the acquisition of First Financial Commercial, a 20-year Commercial Lender owned and operated by Stephanie Safe, Marketplace Home Mortgage now offers commercial lending to clients across the nation.
Together, Stephanie, and Marketplace executive, Greg Ettinger, will be leading the effort.
With her long list of industry contacts, Ms. Safe and Mr. Ettinger will connect commercial clients to the resources, support and unmatched talent Marketplace provides.
“Marketplace is built on relationships, expertise and technology that simplifies lending,” Ms. Safe said. “Now that commercial lending is under the same roof, we can guarantee great service for every possible type of customer demand.”
Ms. Safe has spent the past decade running her own commercial lending company, headquartered in Minnesota while closing transactions across the United States. Her national experience with projects from Multi-Family, Senior Facilities and a variety of other commercial real estate puts a new tool in the arsenal of the 180-plus Marketplace loan officers across their footprint.
“With Stephanie on board, we don’t have to point customers interested in commercial options to the lender down the street,” said Chief Development Officer Greg Ettinger. “Marketplace becomes the go-to option for any and all real estate related lending services.”
Marketplace is well into an expansion that has seen new offices in Iowa, South Dakota, New Hampshire and other states in the past year. CEO Keith White – who’s known Ms. Safe for years – said he envisioned her for the company’s commercial lending leadership long ago.
“Stephanie brings a lot more than her Rolodex to our team,” White said. “She’s charismatic, hardworking and committed to stellar results. Whatever your commercial lending needs, our team will deliver – faster and smarter than anyone else.”
Loan limits 2017 update: For the first time in years, maximum conventional and FHA loan amounts have increased. Refer to the table below for the new conventional limits on loans closed in 2017 (even if originated prior to 1/1/2017). In addition to the changes in the table below, the high balance limits have also increased. READ MORE
Across the US this month children got ready to go back to school, but some students don’t have access to the supplies they will need to succeed. In an effort to support these children, Marketplace Home Mortgage branches and Loan Officers in South Dakota, Minnesota, & Wisconsin held back to school drives. We were overwhelmed by the support and generosity of our co-workers, clients, friends, and families, who pulled together donating money and supplies to help kids start the school year off right. READ MORE