PennyMac announced this week that it is upping conforming loan limits by almost 14% through broker and correspondent channels.
According to PennyMac, for a one-unit property a borrower could receive $625,000, an increase of almost $75,000 from the maximum loan limit dictated by the Federal Housing Finance Agency (FHFA).
The 2021 baseline national conforming loan limit for a one-unit property is currently capped at $548,250, though this number is expected to increase sometime in November.
Kimberly Nichols, senior managing director of broker direct lending at PennyMac, said in a statement that the recent “run-up in home details ⇒
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