The Federal Housing Financing Agency today announced an increase in the conforming loan limits for 2019. The new limit is now $484,350 for a residential loan. This decision is important to New York residents especially due to the fact that home prices throughout the United States and especially in the tri-state area continue to rise. The increase allows someone in 2019 who is making a 20% down payment to purchase a property for $605,000 and apply for a conforming loan. This compares to $566,250 in 2018.

This also has a profound effect for FHA mortgages and VA mortgages where lower down payments are more prevalent. It will allow home buyers to purchase a higher priced home and reap the same benefits.

For more information, contact Our preferred lender: 

Barry Goldenberg

Senior Mortgage Loan Originator

Luxury Mortgage Corp

35 Pinelawn Road, Suite 109E

Melville, New York 11747

Cell: 516.398.9511 | Office: 516.393.4470

Direct: 646-329-7335

eFax: 516.706.3127 | www.luxurymortgage.com

NMLS# 86847 Licensed in NY & NJ

NMLS Entity # 2745