The Senate has just approved going back to the higher conforming loan limits that expired on September 30th of this year. This is so important for buyers looking to purchase homes in the Crofton Maryland area as well as surrounding towns around Fort Meade. There are several towns in Anne Arundel County where home prices are fairly high but the loan limit currently for conforming loans is only $417,000. The Annapolis, Davidsonville, and Crofton areas as well as into Odenton should be treated more like a Washington DC suburb in my opinion.
The House of Representatives now has to approve this ammendment.
Here's a link to an article on DSNews with more information:
Senate Approves Higher Conforming Loan Limit
As Realtors, we cannot give you mortgage advice but if you're contemplating making a move or want to discuss how this might affect your situation, give us a call or email and we can recommend good local lenders who can crunch the numbers for you and explain all of the options that are available in today's market.
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