Why 2018 Will Be the Year to Buy

There are some changes coming to the mortgage world. Here’s what you need to know.

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I’m delighted to be joined once again today by Barry Krevoy from Loan Depot, my preferred lender, to discuss some new changes in the mortgage world. But first, we want to say thanks. This has been a great year for us and we’re so grateful for our businesses, our family, and our friends. We’re looking forward to 2018 and whatever it has to bring. Barry has a bit of insight into what we’re going to see.

The big news is that conventional, FHA, and VA loan limits are being raised. In most areas, the limits are going from $424,100 to $453,100. In high-cost areas, the limits are going from $636,150 to $679,500.

This is going to make homes more affordable for everyone, but it’s going to make them especially affordable for those seeking to purchase a home with a jumbo loan. Instead of having to take out a jumbo loan, which is more expensive and harder to qualify for, they might be able to buy their home with a conventional or FHA loan. This is going to be a tremendous boost for the economy throughout the country. This is probably the most dramatic increase we’ve seen in the market in a long time.

All signs point to 2018 as the year to buy.

When it comes down to it, the signs point to 2018 being a great year to buy. When you take these higher loan limits and combine them with the low interest rates we are continuing to see, there haven’t been many better times to purchase a home. 

If you have any questions in the meantime, you can reach Barry at 949-735-4009 or email bkrevoy@loandepot.com. As always, please don't hesitate to reach out to me with any real estate questions. We look forward to hearing from you soon.