The Conforming loan limit has been announced for 2019.  It is increasing from the 2018 loan limit of $453,100.  The new Conforming or conventional loan limit for most of the country is going up to $484,350.  That is an increase of 6.9% from the previous year.

This means if you are a first time home buyer you can put as little as 3% down which corresponds to a $499,329 loan amount if you are putting the minimum down payment of 3%.  If you are not a 1st time home buyer minimum down payment would be 5% which would correspond to a purchase price putting minimum down to be $509,842.

If you would like to get prequalified for a loan please contact Bruce Singer at Vision Home Mortgage at 702-217-5525