H.R. 5140 Update: HUD Releases New Loan Limits!

The Department of Housing and Urban Development (HUD) has just released the new limits for loans backed by Fannie Mae and Freddie Mac, as well as FHA loans!

You can view the specific loan limits for your county by visiting the HUD website and select Sort By: County, use the pull-down to select Connecticut, and for non-FHA loans select Limit Type: Fannie/Freddie. Lastly click send.

Many who find out what these new limits are will try to refi their jumbos but may find that the bar is set very high. Loans that were once the low hanging fruit all were accustomed to picking simply aren't there. Go find yourself a bucket truck my friends as you'll need a strong credit score, an ample LTV (Loan to Value Ratio) and be able to back up claims of income and assets. To learn more and to see if you qualify for a mortgage, call Carl Bulgini at Fenwick Mortgage at 860-388-LOAN (5626) or visit CT Loan Source.