New 2027 Conventional Loan Limits and What Rising Rates Mean for Buyers

New 2027 Conventional Loan Limits and What Rising Rates Mean for Buyers

The new 2027 conventional loan limits have been released, and I’m already originating loans at these limits:

What Are the 2027 Conventional Loan Limits?

What Do the New Conventional Loan Limits Mean for Home Buyers?

These figures refer to the loan amount, not the purchase price. If you thought the amount you needed was too high for conventional financing, let’s take another look at your options.

What Do Rising Mortgage Rates Mean for Buyers?

There’s been a lot of talk about mortgage rates in the media, and it’s true that rates have risen this year. A higher rate can mean a higher monthly payment, which understandably makes buyers nervous.

When I work with a buyer, I look at more than the amount they qualify to borrow. I also ask what monthly payment feels comfortable. You should be able to enjoy your home without feeling stretched every month.

Should You Buy a Home When Mortgage Rates Are High?

You may have heard the phrase “marry the house, date the rate.” The part I want buyers to remember is this: buy a home you love with a payment you can afford today.

If rates come down later, we can see whether refinancing makes financial sense. Rates may not fall on any particular timeline, and refinancing has costs, so your decision should work for you at today’s payment.

How Inflation and Oil Prices Can Affect Mortgage Rates

The situation involving Iran and oil prices has added to inflation concerns. When energy costs rise, we can feel it at the gas pump and in other everyday expenses. Those concerns can also affect the bond market, which influences mortgage rates.