Higher Loan Limits Help Buyers

    2018 has started off with some good news for home buyers on the Central Coast.  Home values along California’s Central Coast  often run higher than many other areas of California.  These higher values can prove challenging for buyers trying buy using many traditional loan products which have low loan limits compared to local real estate prices.  The good news is that many loan programs raised their loan limits for San Luis Obispo County.  Getting a loan covered by one of the special programs often translates into lower interest rates and lower payments for the buyers, often saving hundreds of dollars a month in payments.  The conventional loan limit  raised to $453,100 in 2018, up from $424,100 in 2017. This is a huge increase in the conventional loan category.  Another very popular loan program is FHA. This year FHA raised its maximum loan amount  to $615,250 up from $586,500 in 2017.  Cash strapped buyers will really appreciate this huge increase in the FHA loan programs.  As we move forward in 2018 we are likely to see many buyers rushing forward to take advantage of these great programs and still fabulous interest rates.  Interested in more information, give us a call.

    Tony Gaspar


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