Upcoming Limit Increases, New Expanded Income Limits, and more!

  • Expanded (higher) income limits, and inclusion of borrower(s) qualifying income only.
  • No more first-time homebuyer requirement! Owner occupancy / primary residence is still required.
  • The Plus Second Mortgage is eligible using the Conventional and FHA programs including for repeat homebuyers.
  • The DPA / CCA Grants and SPARC will not be eligible.
  • No sales price limits will apply; follow the standard maximum loan amount for the applicable GSE / insurer / guarantor.
  • No acreage maximum (follow the applicable GSE / insurer / guarantor requirements).
  • Less paperwork with only pages 1 – 2 of Exhibit E required. Pages 3 – 4 of Exhibit E as well as Exhibits F, O and P will no longer be required.
  • And excitingly, MH Advantage and CHOICEHome will be eligible for conventional financing (other manufactured housing is still not allowed using conventional financing).

These non-bond programs include Conventional, Conventional No MI, FHA, VA, and RHS.

757-560-5573 – traci.waller@ccm.com
Contact Traci Waller – Loan Officer

Information courtesy of Traci Waller of CrossCountry Mortgage LLC. This is for informational purposes only. Contact Traci Waller directly to learn more about mortgage products and your eligibility for such products. NMLS# 512138 Equal Housing Opportunity Information is subject to change without notice. This is not an offer for extension of credit or a commitment to loan.