Southern Ocean County Real Estate Loan Limit Increases 2018
Southern Ocean County NJ Real Estate
Lending rules in the Southern Ocean County real estate market, which generally consists of Stafford, Barnegat, Little Egg Harbor, Waretown and Long Beach Island area always changing. One of the more significant recent changes are loan limit increases for 2018. I thought it would be helpful to have all the loan limits in one place. The new loan limits take effect on 01/02/2018. We are able to take loan application and lock interest rate for your buyers today who will be closing next year.
2018 FHA Loan Limits By County
1 family 2 family 3 family 4 family
Atlantic $316,250 $404,850 $489,350 $608,150
Ocean/Monmouth $679,650 $870,225 $1,051,875 $1,307,175
Conforming (Fannie/Freddi) and VA*
County 1 Family 2 family 3 family 4 family
ATLANTIC $580,150 $453,100 $701,250 $871,450
Ocean/Monmouth $870,225 $679,650 $1,051,875 $1,307,175
*VA follows conforming loan limits for 100% financing but does not have a maximum loan amount. This means a VA purchase mortgage above the county limit will require a small down payment.
Buying a Home in the Southern Ocean County NJ Real Estate Market
These increased loan limits will allow even more buyers to qualify for loans in the Southern Ocean County real estate market. Of course it is always advisable to speak with a lender to see how much home you as a buyer can afford but this news should help some buyers qualify for a home purchase. For more information about local lenders or about Southern Ocean County Real Estate Loan Limit Increases 2018 just drop us a note and we are happy to help!
Ocean Sales Team
For additional counties click on the links below.