Loan Limits By Type of Mortgage

Each type of mortgage is different. Not only are they different in the down payment amount, but also different in the Mortgage Insurance Premiums, credit score requir...

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Loan Limits By Type of Mortgage

Posted by Danny Force on Sunday, April 23rd, 2017 at 11:32pm.

Each type of mortgage is different. Not only are they different in the down payment amount, but also different in the Mortgage Insurance Premiums, credit score requirements, and how appraisers do their jobs. They also have different maximums you're allowed to borrow. Since these numbers change every year, here's what's allowed in 2017. Keep in mind this is the amount borrowed, not necessarily the contract price.

FHA

Collin County, Dallas County, Denton County, Parker County, Tarrant County - $362,250
Cooke County - $275,665

Conventional and VA

$424,100

Jumbo

Anything over $424,100

Remember, these are the basic loans. There's different standards for rehab loans, USDA (based on income), doctor/lawyer/professional loans, etc. Your mortgage lender should be able to help you determine which loan is right for you, using side by side comparisons.

So if you're in the market to buy a home, Contact Me Today! I can help you get set up with mortgage and insurance people to make sure you're able to buy a home and have the best coverage.


Subscribe to my YouTube channel for the Home Buying Process!


You can also get a copy of my Home Buyers Handbook when buying to learn about the process!


Danny Force
Keller Williams Realtor
850 E. State Highway 114, Ste. 100
Southlake, TX 76092
C: 817-903-5442
danny@dannyforce.com

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