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HUGE News for Austin Texas Buyers! Loan limits are now Higher

Huge News for My Austin Texas Buyers Loan Limits Are Now Higher

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New Conforming Loan Limit

  • Increase in Limit: The conforming loan limit has increased by about 12%, now set at $726,200.
  • Impact: This new limit means you can now buy a home valued at around $750,000 with just a 3% down payment.

Buying Higher Valued Homes

  • Million Dollar Homes: For homes valued at $1 million, buyers can take out a second loan and put just 5% down.
  • Advantages: This is particularly beneficial for buyers with good income but insufficient savings for a large down payment.

Avoiding Jumbo Loan Fees

  • Lower Fees: The increase helps buyers avoid the higher fees associated with jumbo loans.

Additional Information

  • Questions: The video invites viewers to ask questions in the comments section for further clarification.
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Tyler Mangin Realtor, Mortgage Advisor, Business Owner
With The Mangin Team at Real Broker, I leverage over 20 years of experience and a strong passion for Austin's real estate market. My background includes a technical and financial education from the University of Texas at Austin School of Business and a career in software engineering. I am currently a licensed realtor and licensed mortgage advisor. This unique expertise allows me to provide comprehensive guidance in residential homes and land transactions, offering a seamless experience for clients. My deep knowledge of Austin Hill Country and meticulous attention to detail enable me to negotiate favorable deals and deliver exceptional service. I understand the complexities of real estate transactions and aim to be a trusted partner, whether you're a first-time homebuyer, investor, or seller. My active involvement in Austin's culture and commitment to an active lifestyle reflect my dedication to staying connected with the community. Expect personalized attention, clear communication, and expert guidance tailored to your needs.
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