Welcome!

News Feed Item

Conventional Loan Limits For 2014 Explained In A New Loan Love Article

SAN DIEGO, March 16, 2014 /PRNewswire-iReach/ -- LoanLove.com is a borrower advice website that offers in depth and up to date information on loans in an easy to understand and entertaining format. The company, which has quickly become a trusted destination for current news and expert loan advice, empowers homeowners with first class knowledge, valuable resources and connections to top rated industry professionals. Loan Love now offers a new article guide that can help loan borrowers understand some of the new changes in mortgage loans, particularly conventional loan limits in 2014. sing this guide, readers can better plan out their home mortgage without any unwanted expenses sneaking up on them.

This article, titled "2014 Loan Limits: Conforming, Conventional, & FHA Expectations" shows readers the different loan limits for their available loan options and how the changes in these loan limits may affect loan borrowers. As the article briefly mentions, "Prospective home buyers shopping around for conforming, conventional and FHA loans in 2014 will find only a few changes in loan limits compared to last year. For the most part, the limits—which set the maximum allowable loan size for a mortgage in a given geographical area—remain at 2013 levels, other than a few adjustments up or down in some high-cost regions.

"With this in mind, the article makes it a point to remind readers that in the first place, there are no actual set loan limits for a conventional loan. A conventional loan will usually indicate a loan product that is not supported or backed by the government. This in turn means that the size of a loan will be dependent on what is allowed by the individual loan lender. This is to a limit, however. The article explains, "While you can get approved for a conventional loan that does not fit within the conforming loan limits, your lender would not be able to resell your nonconforming loan to Fannie Mae and would then be taking on greater risk. This is why most lenders adhere to these limits.

"Loan Love's guide also clarifies what the new base conforming loan limits for 2014 are as shown below:

• 1-unit home : $417,000
• 2-unit home : $533,850
• 3-unit home : $645,300
• 4-unit home : $801,950

Furthermore, loan limits in high cost areas are considerably higher. In many high cost regions, loan limits will max out at:

$625,500 for a one-unit home
$800,775 for a two-unit home
$967,950 for a three-unit home
$1,202,925 for a four-unit home

These loan limits may also vary from state to state such as Hawaii, Alaska, Guam, and the U.S. Virgin Islands where the max loan limits are even higher. Loan Love's article mentions, "While no 0ounties will see a decline in conforming loan limits for 2014, among the several counties where borrowers can take advantage of an increase, are two counties in Virginia, three counties in New York and five in Massachusetts. Several lesser-known metropolitan areas have also seen the conforming loan limit raised for 2014, including Garfield, Colo., which will see loan limits climb all the way to $625,000. Among some of the other cities affected by the higher loan cap in the contiguous states are Boston; Newburgh, N.Y.; Poughkeepsie, N.Y.; and Culpeper County, Va.

"To learn more on the changes of conventional loan limits in 2014 and to find out if a conventional loan is a suitable choice taking out a mortgage loan, please visit LoanLove.com to read the full article.

Media Contact: Kevin Blue, LoanLove.com, 949-292-8401, [email protected]

News distributed by PR Newswire iReach: https://ireach.prnewswire.com

SOURCE LoanLove.com

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Major trends and emerging technologies – from virtual reality and IoT, to Big Data and algorithms – are helping organizations innovate in the digital era. However, to create real business value, IT must think beyond the ‘what’ of digital transformation to the ‘how’ to harness emerging trends, innovation and disruption. Architecture is the key that underpins and ties all these efforts together. In the digital age, it’s important to invest in architecture, extend the enterprise footprint to the cl...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
Connected devices and the industrial internet are growing exponentially every year with Cisco expecting 50 billion devices to be in operation by 2020. In this period of growth, location-based insights are becoming invaluable to many businesses as they adopt new connected technologies. Knowing when and where these devices connect from is critical for a number of scenarios in supply chain management, disaster management, emergency response, M2M, location marketing and more. In his session at @Th...
"Dice has been around for the last 20 years. We have been helping tech professionals find new jobs and career opportunities," explained Manish Dixit, VP of Product and Engineering at Dice, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"We are a modern development application platform and we have a suite of products that allow you to application release automation, we do version control, and we do application life cycle management," explained Flint Brenton, CEO of CollabNet, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
What happens when the different parts of a vehicle become smarter than the vehicle itself? As we move toward the era of smart everything, hundreds of entities in a vehicle that communicate with each other, the vehicle and external systems create a need for identity orchestration so that all entities work as a conglomerate. Much like an orchestra without a conductor, without the ability to secure, control, and connect the link between a vehicle’s head unit, devices, and systems and to manage the ...
"We're a cybersecurity firm that specializes in engineering security solutions both at the software and hardware level. Security cannot be an after-the-fact afterthought, which is what it's become," stated Richard Blech, Chief Executive Officer at Secure Channels, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
Application transformation and DevOps practices are two sides of the same coin. Enterprises that want to capture value faster, need to deliver value faster – time value of money principle. To do that enterprises need to build cloud-native apps as microservices by empowering teams to build, ship, and run in production. In his session at @DevOpsSummit at 19th Cloud Expo, Neil Gehani, senior product manager at HPE, discussed what every business should plan for how to structure their teams to delive...
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. In the eyes of many, containers are at the brink of becoming a pervasive technology in enterprise IT to accelerate application delivery. In this presentation, attendees learned about the: The transformation of IT to a DevOps, microservices, and container-based architecture What are containers and how DevOps practices can operate in a container-based environment A demonstration of how ...
"Venafi has a platform that allows you to manage, centralize and automate the complete life cycle of keys and certificates within the organization," explained Gina Osmond, Sr. Field Marketing Manager at Venafi, in this SYS-CON.tv interview at DevOps at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
"Qosmos has launched L7Viewer, a network traffic analysis tool, so it analyzes all the traffic between the virtual machine and the data center and the virtual machine and the external world," stated Sebastien Synold, Product Line Manager at Qosmos, in this SYS-CON.tv interview at 19th Cloud Expo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA.
In addition to all the benefits, IoT is also bringing new kind of customer experience challenges - cars that unlock themselves, thermostats turning houses into saunas and baby video monitors broadcasting over the internet. This list can only increase because while IoT services should be intuitive and simple to use, the delivery ecosystem is a myriad of potential problems as IoT explodes complexity. So finding a performance issue is like finding the proverbial needle in the haystack.
In his keynote at 18th Cloud Expo, Andrew Keys, Co-Founder of ConsenSys Enterprise, provided an overview of the evolution of the Internet and the Database and the future of their combination – the Blockchain. Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life sett...
The WebRTC Summit New York, to be held June 6-8, 2017, at the Javits Center in New York City, NY, announces that its Call for Papers is now open. Topics include all aspects of improving IT delivery by eliminating waste through automated business models leveraging cloud technologies. WebRTC Summit is co-located with 20th International Cloud Expo and @ThingsExpo. WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web ...
Redis is not only the fastest database, but it has become the most popular among the new wave of applications running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 18th Cloud Expo, Dave Nielsen, Developer Relations at Redis Labs, shared the functions and data structures used to solve everyday use cases that are driving Redis' popularity.