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Select New Lending Limits for 2024

Published on Jan 09, 2024 | Reverse Mortgage HECM Reverse Mortgage Jumbo Reverse Mortgage VA Low Score VA LOAN Lending Limit increase Jumbo Reverse Second Trust
Select New Lending Limits for 2024
Select New Lending Limits for 2024

 

 

• HECM Reverse Mortgages (Government Insured FHA): $1,149,825

• Jumbo Reverse (Private Label): $4,000,000 (higher loan amounts require exceptions based on market conditions)

• Jumbo Reverse-Standalone Second Trusts: $4,000,000 (Florida Only)

• Fannie Mae/Freddie Mac Conforming Loans: $766,550

• FHA loans: $1,149,825 (Government Insured)

• VA Loans with No Down Payment: $766,550 (limit for typical US county)

• Closed-end Standalone Second Trusts: $500,000

 

George H. Omilan
President-CEO - NMLS# 873983
Jefferson Mortgage Group LLC - Mortgage Specialist

Programs:  Traditional QM (Fannie Mae, Freddie Mac), government insured HECM Reverse Mortgages, and Non Traditional Non QM Mortgages commonly referred to as Specialized Forward Mortgages including “Alt-A Investor loans” and DSCR (Debt Service Coverage Ratio) loans up to 85% LTV, both Full doc and No Income-No Employment (No Doc) for the investor community. Our expanded niche products also focus on the more traditional FHA & VA with Lower Score and higher Debt-to-Income Options, Fixed & Variable Jumbo loans, and Private Label Reverse mortgages for higher priced homes. We are also highly focused on specialized loans for the Self-Employed borrowers with our Bank Statement & Asset Dissipation Programs. We are committed to offering a full range of “Non-QM Loans” for expanded qualification, where the banks and large-scale lenders dare to go.

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