Loan Limits Increase

Fannie and Freddie increased their conforming loan limit to $548,250 across the country effective January 1st. This is a 7.50% increase. Here for metro Denver our new High Balance Loan Amount will be $596,850, an increase of only about $22k. This limit didn't increase as much as the conforming loan limit increase. We can't close loans of these higher amounts until January 2nd and we don't know yet when we can lock in these new higher loan amounts.