The new threshold for jumbo loans won’t officially flirt with $750,000 until January, but the nation’s largest mortgage lenders are boosting their limit for conforming loans in advance of the Federal Housing Finance Agency’s official announcement this fall.
A new limit of $750,000
Rocket Mortgage and United Wholesale Mortgage have upped their mortgage limit to $750,000 for the continental U.S. and to $1.125 million for Alaska and Hawaii.
A bit of background: Mortgage giants Fannie Mae and Freddie Mac buy most of the residential mortgages issued in the U.S. The upper limit on the amounts of those loans is set once a year by their federal overseer, the Federal Housing Finance Agency (FHFA).
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