The Federal Housing Finance Agency (FHFA) recently released the conforming loan limit increase for 2021. So, you may be wondering what this means for you and your borrowers. Also, in most of the U.S., the 2021 maximum conforming loan limit (CLL) for one-unit properties will be $548,250. So, this is an increase from $510,400 in 2020.
So, help your borrowers understand what this means for them! Make sure each client knows that they are not alone. Also, it is your job as a loan officer to be their guide throughout the process.
So, educate your clients on the conforming loan limit increase. And, share this borrower-friendly blog post with clients to help them understand this industry change. Also, consider posting this on social media to interact with your customers in a personal and educational way.
Free, Shareable Resources
So, the Mortgage Update is a free, shareable resource that you can send to customers.
As a loan officer, it is a critical part of your job to make sure your clients are prepared. So, educate your clients. Then, share this borrower-friendly blog post to help them understand this conforming loan limit increase.
Also, consider posting this on social media to interact with your customers in a more personal way.
Read the Article on the Conforming Loan Limit Increase Now:
So, there are many benefits to getting a conforming loan, including a lower total cost of borrowing and being able to work with the most favorable lenders.
So, be sure to educate your borrowers on this conforming loan limit increase as they make their way through the mortgage process. Also, help them have a smooth application process!