
If you’re considering taking out a conforming loan, you will want to take a closer look at the conforming loan limits for 2025 that have been officially released. Read on to learn about these rates and if a conforming loan is the right fit for you.
Official 2025 Conforming Loan Limits
The 2025 conforming loan limits have seen an increase of 5.2%. Here are the new limits:
Number of Units | New Maximum 2025 Loan Limits | Old Maximum 2024 Loan Limits |
1 | $806,500 | $766,550 |
2 | $1,032,650 | $981,500 |
3 | $1,248,150 | $1,186,350 |
4 | $1,551,250 | $1,474,400 |
The limits are set by the Federal Housing Finance Agency (FHFA), which determines the dollar cap on the size of a mortgage that the Federal Home Loan Mortgage Corp (Freddie Mac) and the Federal National Mortgage Association (Fannie Mae) will guarantee. The county designates the loan limit.
Most counties are assigned the baseline limit of $806,500, but in counties where 115% of the local median home values exceed the baseline limit, the maximum loan limit will be set higher. For example, Fort Lauderdale in Broward County does not have a higher loan limit, whereas Monroe County in Florida has a baseline loan limit of $967,150.
Broward County Conforming Loan Limits
Here are the limits residents in Broward County can expect:
- 1 Unit – $806,500
- 2 Unit – $1,032,650
- 3 Unit – $1,248,150
- 4 Unit – $1,551,250
Advantages of a Conforming Loan
These loans are desirable because they have low interest rates and come with low down payments for first-time homebuyers taking out an FHA loan. These loans also have less strict lending requirements, and borrowers can lower their down payments with good credit. For those with a high debt-to-income ratio (DTI), like 50%, a conforming loan is much easier to get than a non-conforming loan.
Generally, the loan application may also be a lot faster as conforming loan guidelines are pretty standardized.
Will I Qualify for a Conforming Loan?
To qualify for this type of loan, you’ll need to meet the same requirements of a conventional loan. This means you need to have a minimum credit score of at least 620 and a DTI of 45% or less, and you’ll have to pay for mortgage insurance until 20% equity in your home has been reached whereas with an FHA loan, you cannot get rid of mortgage insurance.
Get a Conforming Loan With Mortgage Experts in Fort Lauderdale
Are you ready to start your application for a conforming loan? Reach out to the friendly team at Florida State Mortgage Group to get started. We can guide you through the application process and get you into your dream home. Call us at (954) 359-3000 to schedule a consultation.
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