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Every year the FHFA (Federal Housing Finance Agency) sets a new loan limit for the coming year. The limit is additionally adjusted in some high costs area, such as Hawaii, where the median home costs exceed the limit. The new Hawaii FHFA confirmed loan limit for 2023 is $1,089,300. FHFA Announces Conforming Loan Limit Values for 2023
The increase of the limits opens up opportunities for both home buyers and owners. Buyers can complete low down purchases at a higher purchase price now while obtaining a lower conforming rate. Homeowners that closed on what was before a jumbo loan and now is conforming (between $937k-1.089 million) may be able to refinance to a lower rate or take out the additional cash their jumbo loan required.
We are currently offering this loan limit on conventional loans. Please contact our team of experienced Loan Officers with any questions or email info@c2hawaii.com.
C2 Financial Corporation is a Hawaii State NMLS Licensed MLOC: NMLS #135622, C2 Hawaii NMLS#1244222. Loan approval is not guaranteed and is subject to lender review of information. All loan approvals are conditional and all conditions must be met by borrower. Loan is only approved when lender has issued approval in writing and is subject to the Lender conditions. Specified rates may not be available for all borrowers. Rate subject to change with market conditions. C2 Financial Corporation is an Equal Opportunity Mortgage Broker/Lender. The services referred to herein are not available to persons located outside the state of Hawaii.
